Quarterly stocks for corn, soybeans up on the year
The USDA says demand slowed for corn and soybeans, and rose for wheat during the first quarter of the year.
Corn stocks on March 1 totaled 7.85 billion bushels, up 2% year over year, close to pre-report expectations.
Soybean were pegged at 1.93 billion bushels, up 24% from March 1, 2021, higher than expected.
Wheat stocks on March 1 were at 1.02 billion bushels, down 22% from last year, below pre-report expectations.
Rough rice stocks were at 91.1 million hundredweight, down 8% from March 1, 2021. Milled rice stocks are down 11% year-over-year at 5.09 million cwt.
The USDA’s next set of quarterly grain stocks numbers is out June 30th.