As of March 1 USDA reports 2.7 billion bushels of soybeans in stock, slightly higher than the trade expectations. On-farm soybean storage is estimated at 1.2 billion bushels. There are 1.6 billion bushels of wheat in storage, a six percent increase from one year ago and higher than the average trade guess. USDA estimates farmers are storing 40.6 million bushels of wheat on-farm. U.S. corn stocks are three percent lower than one year ago at 8.6 billion bushels, above trade expectations. Of the total stocks, more than five billion bushels of corn were stored on the farm.
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