Midseason US Corn Stocks Down from Previous Year
We estimate March 1, 2025 US corn stocks were four percent smaller on a year over year basis. The ratio of US March corn stocks to September/May usage dropped to 93% versus 100% in 2024. But stocks are not as tight as the period from 2011 through 2013 which were the tightest this century.
| US Corn December/February Balance Mil. Bu. | ||||||
| 2022 | 2023 | 2024 | 2025 | Percent | ||
| December Stocks | 11,641 | 10,821 | 12,171 | 12,074 | ||
| Imports | 7 | 6 | 6 | 6 | ||
| Feed | 1,534 | 1,434 | 1,566 | 1600 | 2% | |
| FSI | 1,685 | 1,638 | 1,690 | 1750 | 4% | |
| Exports | 664 | 399 | 569 | 705 | 24% | |
| Total | 3,881 | 3,423 | 3,825 | 4055 | 6% | |
|
March 1 Stocks
|
7,757 | 7,396 | 8,352 | 8,025 | -4% | |
| 2025 Our estimate. | ||||||
Based on the recent Price-Stocks function a ratio in the mid 90S would suggest a high for the July 2025 Corn Futures in excess of $6.00. per bushel. The point marked in red is based on our stocks estimate and trading on 02/26/25.
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