US June Corn Stocks Likely Up Sharply
Calculated US corn stocks on June 1, 2024 are estimated by Us at 4.8 billion bushels compared to 4.1 billion bushels one year earlier. The ratio of June 1 corn stocks to September 2024 through May 2024 usage is 41% which would be the largest ratio since the 2019/2020 crop year.
| US Corn Balance March/May | ||||
| 2022 | 2023 | 2024 | ||
| March 1 Stocks | 7,763 | 7,410 | 8,353 | |
| Feed | 848 | 1,005 | 1,100 | |
| FSI | 1,712 | 1,667 | 1,629 | |
| Exports | 854 | 634 | 792 | |
| Total Usage | 3,414 | 3,306 | 3,521 | |
|
June 1 Stocks
|
4,349 | 4,106 | 4,832 | |
| 2024 Our Estimate, Million bushels | ||||
Ample old crop corn stocks would leave corn market bulls relying on unfavorable Midwest summer weather to make their positions profitable. The USDA has scheduled the release of the June Grain Stocks Report for June 28, 2024.