Old crop corn carryout was at two billion bushels in Wednesday’s Quarterly Stocks Report. This is a 10 percent decline from one year ago. USDA raised demand by 2.67 million bushels and lowered harvested acres to 81.3 million. Old crop soybean stocks totaled 523 million bushels at the end of the marketing year, 42 percent less than the previous year. USDA reduced soybean demand by 333,000 bushels. USDA also reduced harvested acres to 74.9 million acres and left the average yield unchanged at 47.4 bushels per acre. All wheat stored in all positions totaled 2.16 billion bushels, down eight percent from one year ago. Wheat disappearance was at 40.1 million bushels.
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