After record years of corn production, it’s no wonder that corn grain stocks set a record in March, said DTN’s senior analyst Darin Newsom.

Corn stocks in all positions on March 1 totaled a record 8.62 billion bushels, up 10 percent from March 1, 2016, the U.S. Department of Agriculture (USDA) said in its report last week.

"Corn quarterly stocks were the largest on record," he said. "So we have huge, huge quarterly stocks. But we knew that going in; we’ve had four record years in a row."

Of the total stocks, 4.91 billion bushels were stored on farms, up 13 percent from a year earlier. Off-farm stocks, at 3.71 billion bushels, are up 6 percent from a year ago. The...