Corn and all wheat stocks were above the average of trade expectations.
WASHINGTON, D.C., U.S. — The U.S. Department of Agriculture in its June 30 Grain Stocks report estimated corn stocks in all positions on June 1 at 5.225 billion bushels, up 11% from a year earlier, including 2.841 billion bushels on farms, up 15%, and 2.384 billion bushels off farms, up 6%. Soybean stocks were estimated at 963 million bushels, up 11% from last year, with on-farm stocks at 333 million bushels, up 18%, and off-farm stocks at 631 million bushels, up 7%. Old crop all wheat stocks totaled 1.184 billion bushels, up 21% from June 1, 2016, including 192 million bushels on farms, down 3%, and 993 million bushels off farms, up 28%. Durum stocks were 36.3 million bushels, up 31%. Corn and all wheat stocks were above the average of trade expectations while soybeans were below.