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.
