Storing a Lot of Corn on the Farm

Dan Corn, Field Crops, Soybeans, USDA-NASS, Wheat

Shelter for storage of corn and grain products. Large heaps of grain are built under the roof in the old granary.
Image by veloliza/DepositPhotos

Seeing corn prices below four dollars has really opened some eyes. Part of that is due to numbers recently released by the USDA National Agricultural Statistics Service (NASS). Their quarterly Grain Stocks Report indicated on-farm stocks of corn, as of June 1, was up 37% from a year ago.

USDA Chief Economist Seth Meyer says corn growers are storing a large percentage of their corn on the farm.

The NASS report noted corn stocks as of June 1 totaled 4.99 billion bushels, up 22% from the same time last year. And while on-farm corn stocks were up 37% from a year ago, the report shows that off-farm stocks were up 4%.