Corn – Dec 1^st Stocks Reach a Record Seasonal High, Finish Slightly Above Analyst Expectations Corn stored in all positions as of December 1^st, 2017 totaled 12.516 billion bushels, up 1.1% from the previous year and finishing at a record seasonal high level. Corn stocks finished 0.7% above average analyst estimates of 12.431 billion bushels. Stocks increased seasonally by 10.223 billion bushels from the previous quarter, 4.0% below the build experienced during the same period last year. Dec 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 Dec 1^st corn stocks were experienced throughout Illinois, Missouri and Nebraska. Soybeans – Dec 1^st Stocks Reach a Record Seasonal High but Finish Slightly Below Analyst Expectations Soybeans stored in all positions as of December 1^st, 2017 totaled 3.157 billion bushels, up 8.9% from the previous year and finishing at a record seasonal high level. Soybean stocks finished 0.8% below average analyst estimates of 3.181 billion bushels, however. Stocks increased seasonally by2.855 billion bushels from the previous quarter, 5.7% above the build experienced during the same period last year. Dec 1^st soybean stocks were most significant within Illinois, followed by Iowa and Minnesota. The aforementioned states combined to account for over 40% of the total U.S. soybean stocks. The most significant YOY increases in Dec 1^st soybean stocks were experienced throughout Missouri, followed by Minnesota and Nebraska. Wheat – Dec 1^st Stocks Lower YOY but Finish Above Analyst Expectations Wheat stored in all positions as of December 1^st, 2017 totaled 1.874 billion bushels, down 9.9% from the previous year but remaining at the second highest seasonal level experienced throughout the past seven years. Wheat stocks finished 1.4% above average analyst estimates of 1.849 billion bushels. Stocks indicated disappearance of 392.5 million bushels from the previous quarter, down 15.7% from the same period last year. Dec 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 Dec 1^st wheat stocks were experienced throughout North Dakota, Montana and South Dakota. Quarterly Grain Stocks Update – Jan ’18 Corn – Dec 1^st Stocks Reach a Record Seasonal High, Finish Slightly Above Analyst Expectations Corn stored in all positions as of December 1^st, 2017 totaled 12.516 billion bushels, up 1.1% from the previous year and finishing at a record seasonal high level. Corn stocks finished 0.7% above average analyst estimates of 12.431 billion bushels. Stocks increased seasonally by 10.223 billion bushels from the previous quarter, 4.0% below the build experienced during the same period last year. Dec 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 Dec 1^st corn stocks were experienced throughout Illinois, Missouri and Nebraska. Soybeans – Dec 1^st Stocks Reach a Record Seasonal High but Finish Slightly Below Analyst Expectations Soybeans stored in all positions as of December 1^st, 2017 totaled 3.157 billion bushels, up 8.9% from the previous year and finishing at a record seasonal high level. Soybean stocks finished 0.8% below average analyst estimates of 3.181 billion bushels, however. Stocks increased seasonally by2.855 billion bushels from the previous quarter, 5.7% above the build experienced during the same period last year. Dec 1^st soybean stocks were most significant within Illinois, followed by Iowa and Minnesota. The aforementioned states combined to account for over 40% of the total U.S. soybean stocks. The most significant YOY increases in Dec 1^st soybean stocks were experienced throughout Missouri, followed by Minnesota and Nebraska. Wheat – Dec 1^st Stocks Lower YOY but Finish Above Analyst Expectations Wheat stored in all positions as of December 1^st, 2017 totaled 1.874 billion bushels, down 9.9% from the previous year but remaining at the second highest seasonal level experienced throughout the past seven years. Wheat stocks finished 1.4% above average analyst estimates of 1.849 billion bushels. Stocks indicated disappearance of 392.5 million bushels from the previous quarter, down 15.7% from the same period last year. Dec 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 Dec 1^st wheat stocks were experienced throughout North Dakota, Montana and South Dakota.