The USDA says corn, soybean, and wheat stocks on September 1st, 2021 were down sharply from September 1st, 2020. This is effectively the carryover estimate for 2020/21 corn, sorghum, and soybeans, but further revisions are likely. The 2021/22 marketing year started June 1st for wheat and September 1st for beans, corn, and sorghum.
Corn was reported at 1.237 billion bushels, a drop of 36% on the year, but above what analysts were expecting ahead of the report, as a year-to-year decline in fourth quarter use, 2.87 billion bushels for 2020/21 compared to 3.08 billion for 2019/20, likely to due to higher prices, which canceled out a downward revision to the 2020 production total.
