Corn – Mar 1^st Stocks Reach a Record Seasonal High, Finish Above Analyst Expectations Corn stored in all positions as of March 1^st, 2018 totaled 8.89 billion bushels, up 3.1% from the previous year and finishing at a record seasonal high level. Corn stocks finished 2.1% above average analyst estimates of 8.70 billion bushels. Stocks indicated disappearance of 3.68 billion bushels from the previous quarter, 2.2% below the drawdown experienced during the same period last year. Mar 1^st corn stocks were most significant within Iowa, followed by Illinois and Minnesota. The aforementioned states combined to account for nearly half of the total U.S. corn stocks. The most significant YOY increases in Mar 1^st corn stocks were experienced throughout Illinois, Indiana and Kansas. Illinois accounted for 93% of the total YOY increase in corn stocks. Soybeans – Mar 1^st Stocks Reach a Record Seasonal High, Finish Above Analyst Expectations Soybeans stored in all positions as of March 1^st, 2018 totaled 2.11 billion bushels, up 21.2% from the previous year and finishing at a record seasonal high level. Soybean stocks finished 3.8% above average analyst estimates of 2.03 billion bushels. Stocks indicated disappearance of 1.05 billion bushels from the previous quarter, 9.2% below the drawdown experienced during the same period last year. Mar 1^st soybean stocks were most significant within Illinois, followed by Iowa and Minnesota. The aforementioned states combined to account for over 45% of the total U.S. soybean stocks. The most significant YOY increases in Mar 1^st soybean stocks were experienced throughout Illinois, Iowa and Minnesota. Illinois accounted for 27% of the total YOY increase in soybean stocks. Wheat – Mar 1^st Stocks Lower YOY, Finish Slightly Below Analyst Expectations Wheat stored in all positions as of March 1^st, 2018 totaled 1.49 billion bushels, down 9.9% from the previous year but remaining at the second highest seasonal level experienced throughout the past 30 years. Wheat stocks finished 0.3% below average analyst estimates of 1.50 billion bushels. Stocks indicated disappearance of 379 million bushels from the previous quarter, down 9.9% from 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 40% of the total U.S. wheat stocks. The most significant YOY declines in Mar 1^st wheat stocks were experienced throughout North Dakota, South Dakota and Montana.