Quarterly stocks fall short of expectations

Quarterly stocks fall short of expectations

Quarterly U.S. grain stocks were smaller than expected.

The USDA says the domestic supply of corn on December 1st, 2022 was 10.809 billion bushels, 7% under December 1st, 2021, partially due to smaller production, even with a decline in indicated first quarter disappearance. On-farm stocks were 6.748 billion bushels, with off-farm stocks at 4.061 billion, down 7% and 8%, respectively.

Soybean stocks were reported at 3.022 billion bushels, 4% less than a year ago, with a 2022 smaller crop helping to cancel out slower demand.

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