USDA: U-S Corn Stocks 30 Per Cent Higher Than Last Year

The USDA reports corn stocks in that country are up 30 per cent from a year ago.

Total corn stocks are an estimated 7 point 01 billion bushels.

The department says the December-February disappearance was 3 point 45 billion bushels, considerably higher than last year’s 2 point 63 billion .

U-S soybean stocks totalled 992 million bushels, down 1 per cent from a year ago.

Soybean disappearance in the December-February period was up 20 per cent from a year ago.

And U-S wheat stocks are an estimated 1 point 06 billion bushels, down 15 per cent from 2013.

Those continuing high corn stocks appear to be having an impact on U-S farmers planting intentions.

The USDA says American farmers intend to plant 91 point 7 million acres of corn – down 4 per cent from 2013.

An estimated 81 point 5 million acres of soybeans are expected to be planted, up 6 per cent.

And wheat plantings are expected to come in just under 56 million acres, down 1 per cent from 2013.

That corn acreage would be the lowest in the U-S since 2010.