USDA’s Quarterly Stocks report estimated corn supplies on June 1 at 4.3 billion bushels, six percent more than one year ago. Of the total, more than two billion bushels are stored on farm. Soybean stocks totaled 971 million bushels. That’s 26 percent more year-over-year. Of the total, 331 million bushels are stored on farm or 51 percent more than last year. Old crop wheat supplies totaled 660 million bushels, down 22 percent from one year ago. On farm stocks are estimated at 93 million bushels, down 34 percent year from last year.
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