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Corn, soybean, wheat stocks increase

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According to the USDA, corn and soybean stocks on June 1st, 2015 were above year ago levels, but the numbers do indicate good quarterly demand.

Corn stocks in all positions came out at 4.45 billion bushels, 15% higher than on June 1st, 2014. On farm stocks were 2.28 billion bushels, up 22%, and off farm stocks were 2.17 billion bushels, 9% more. The indicated disappearance from March through the end of May was 3.3 billion bushels, 140 million more than the same period a year ago.

Soybeans were reported at 625 million bushels, a 54% year to year increase. On farm stocks were 246 million bushels, 126% above a year ago, and off farm stocks were 379 million bushels, up 28%. The quarterly disappearance of 701 million bushels was 19% larger than last year’s rate.

All wheat was pegged at 753 million bushels, a 28% jump. On farm stocks were 155 million bushels, up 60%, and off farm stocks were 597 million bushels, 21% higher. The indicated disappearance of 388 million bushels was down 17% on the year. Durum stock came out at 25.9 million bushels, 20% above a year ago. On farm stocks were 10.3 million bushels, down 20%, while off farm stocks were 15.6 million bushels, up 79%. The indicated disappearance of 11.8 million bushels was 29% slower than the previous year.

The next set of supply and demand numbers is out July 10th.

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