Corn is piling up, with stocks 22 percent from last year and nearly 10 percent above the five-year average. However, on-farm storage is well above historical trends.
61 percent of U.S. corn stocks are being held on-farm as of June 1st, the largest amount since 1999 and above the decade average of 52 percent. During the same time, 48 percent of soybean stocks are being held on-farm, the largest percentage since 2006. Analysts point to low prices for the situation and say weather has also had a role.
Iowa is currently the largest holder of stocks with 653 million bushels being held on-farm between corn and soybeans.
