Corn – Mar 1^st Stocks Rebound From the Previous Year but Finish Slightly Below Expectations

Corn stored in all positions as of March 1^st, 2022 totaled 7.85 billion bushels, up 2.0% from the previous year but remaining at the second lowest seasonal level experienced throughout the past six years. Corn stocks finished 0.4% below average analyst estimates of 7.88 billion bushels. Stocks indicated disappearance of 3.79 billion bushels from the previous quarter, 5.4% greater than the drawdown experienced during the same period last year.

Mar 1^st corn stocks were most significant within Iowa, followed by Illinois and Nebraska. The aforementioned states combined to account for over 45% of the total U.S. corn stocks.

The most significant YOY increase in Mar 1^st corn stocks was experienced throughout Wisconsin, followed by increases experienced throughout Iowa and Ohio. Minnesota corn stocks declined most significantly from previous year levels.

Soybeans – Mar 1^st Stocks Rebound From the Previous Year, Finish Above Expectations

Soybeans stored in all positions as of March 1^st, 2022 totaled 1.93 billion bushels, up 23.7% from the previous year but remaining at the second lowest seasonal level experienced throughout the past five years. Soybean stocks finished 1.2% above average analyst estimates of 1.91 billion bushels. Stocks indicated disappearance of 1.22 billion bushels from the previous quarter, 11.9% below the drawdown experienced during the same period last year.

Mar 1^st soybean stocks were most significant within Iowa, followed by Illinois and Minnesota. The aforementioned states combined to account for over 45% of the total U.S. soybean stocks.

The most significant YOY increase in Mar 1^st soybean stocks was experienced throughout Iowa, followed by increases experienced throughout Illinois and Nebraska. South Dakota soybean stocks declined most significantly from previous year levels.

Wheat – Mar 1^st Stocks Reach a 14 Year Low Seasonal Level, Finish Below Expectations

Wheat stored in all positions as of March 1^st, 2022 totaled 1.02 billion bushels, finishing 21.8% below the previous year and reaching a 14 year low seasonal level. Wheat stocks finished 1.4% below average analyst estimates of 1.04 billion bushels. Stocks indicated disappearance of 353 million bushels from the previous quarter, 9.8% below the drawdown experienced during the same period last year.

Mar 1^st wheat stocks were most significant within Kansas, followed by North Dakota and Oklahoma. The aforementioned states combined to account for over 45% of the total U.S. wheat stocks.

The most significant YOY decline in Mar 1^st wheat stocks was experienced throughout North Dakota, followed by declines experienced throughout Kansas, Montana and Washington. Oklahoma wheat stocks increased most significantly from previous year levels.