What Are the Facts About US Corn?

When USDA released its January WASDE report, US corn production jumped from the previous 425.53 mmt (16.75 billion bushels) to a record 432.34 mmt (17.02 bb), an increase of 1.6%. Carrying the numbers out to the ledger's end, US ending stocks were increased to 56.56 mmt (2.23 bb), theoretically putting ending stocks-to-use at 13.6%, what would be the largest ending stocks-to-use figure – again theoretically – since the end of the 2008-09 marketing year at a reported 13.9%. Not only that, but quarterly stock ...