US grain stocks, March 1 and (change on market forecast)
Corn: 6.52bn bushels, (-167m bushels)
Soybeans: 1.25bn bushels, (-50.1m bushels)
Wheat: 1.42bn bushels, (+25.6m bushels
"The market will now be back talking rationing on corn and soybeans," US Commodities said, adding that farmers "now need to make sure we get a sizeable yield" too to support supplies.
At Macquarie, Alex Bos said the data "suggest demand rationing will need to occur quickly in order to prevent US ending stocks from falling below minimum pipeline levels".
And University of Illinois economist Darrel Good said: "Just when it looked like the rationing job had been completed, this report suggests that corn is still being used too rapidly."
Source: Agrimoney
Source: Agrimoney
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