June 1 wheat, corn stocks down

by Ron Sterk
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WASHINGTON — Wheat stored in all positions on June 1 totaled 456 million bus, down 20% from June 1, 2006, the U.S. Department of Agriculture said in its latest Grain Stocks report (click here to read report). Indicated disappearance of wheat during the March-May quarter was 401 million bus, up slightly from the same period last year, the U.S.D.A. said. Durum stocks were 22 million bus, down 47% from a year ago. Stocks of corn on June 1 totaled 3,534 million bus, down 19% from a year ago. Soybean stocks in all positions were 1,091 million bus, up 10% from last year. The U.S.D.A. numbers for wheat, corn and soybeans all were slightly above average trade expectations.

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