USDA reports tighter U.S. supplies for major crops

The USDA says corn, soybean, wheat, sorghum, and rice stocks were all tighter on March 1st, 2020 than on March 1st, 2019. That’s partially because of demand, but also because of lower production in 2019 than in previous years for many major U.S. crops.

Quarterly corn stocks were reported at 7.953 billion bushels, a decrease of 8% on the year, soybeans were pegged at 2.253 billion bushels, a drop of 17%, all types of wheat came out at 1.412 billion bushels, 11% less than last year, sorghum stocks totaled 165.895 million bushels, a decline of 14%, and rough rice stocks of 86.145 million hundredweight were 17% below a year ago.

The USDA’s next set of supply and demand estimates is currently scheduled for April 9th.

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