Corn – Jun 1^st Stocks Decline to a Seven Year Low Seasonal Level, Finish Slightly Below Expectations

Corn stored in all positions as of June 1^st, 2021 totaled 4.11 billion bushels, down 17.8% from the previous year and reaching a seven year low seasonal level. Corn stocks finished 0.4% below average analyst estimates of 4.13 billion bushels. Stocks indicated disappearance of 3.58 billion bushels from the previous quarter, 21.5% greater than the drawdown experienced during the same period last year.

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

The most significant YOY declines in Jun 1^st corn stocks were experienced throughout Iowa, followed by Minnesota and North Dakota. Ohio experienced the largest YOY increase in corn stocks.

Soybeans – Jun 1^st Stocks Decline to a Six Year Low Seasonal Level, Finish Slightly Below Expectations

Soybeans stored in all positions as of June 1^st, 2021 totaled 767 million bushels, down 44.5% from the previous year and reaching a six year low seasonal level. Soybean stocks finished 0.8% below average analyst estimates of 773 million bushels. Stocks indicated disappearance of 795 million bushels from the previous quarter, 9.0% below the drawdown experienced during the same period last year.

Jun 1^st soybean stocks were most significant within Iowa, followed by Illinois and Minnesota. The aforementioned states combined to account for over 40% of the total U.S. soybean stocks.

The most significant YOY declines in Jun 1^st soybean stocks were experienced throughout Iowa, followed by Illinois and Minnesota. YOY declines in soybean stocks were widespread across states with provided data.

Wheat – Jun 1^st Stocks Decline to a Six Year Low Seasonal Level, Finish Below Expectations

Wheat stored in all positions as of June 1^st, 2021 totaled 843 million bushels, finishing 17.9% below the previous year and reaching a six year low seasonal level. Wheat stocks finished 2.0% below average analyst estimates of 861 million bushels. Stocks indicated disappearance of 467 million bushels from the previous quarter, 20.6% above the drawdown experienced during the same period last year.

Jun 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 declines in Jun 1^st wheat stocks were experienced throughout Kansas, followed by North Dakota. Oklahoma experienced the largest YOY increase in wheat stocks.