The US marketing year for corn and soybeans is finished and a thorough review of the balance sheet was completed.
Per latest data released on this morning by the US Department of Agriculture, U.S. corn production for 2020 is revised down 71.0 million bushels and U.S. soybean production is revised up 80.8 million bushels from the previous estimate.
Meanwhile, corn stocks were down 36 percent from September 2020;
Soybean stocks were down 51 percent;
All wheat stocks down 18 Percent;
Durum wheat stocks in all positions on September 1, 2021 totaled 46.9 million bushels, down 34 percent from a year ago.
On-farm stocks, at 21.0 million bushels, are down 52 percent from September 1, 2020.
Off-farm stocks totaled 25.9 million bushels, down 6 percent from a year ago.
The June – August 2021 indicated disappearance of 17.7 million bushels is down 56 percent from the same period a year earlier.
