Corn stocks steady, soy down
This month’s 2021-22 U.S. corn outlook calls for offsetting changes to feed and residual use and corn used for ethanol production, with unchanged ending stocks, according to the U.S. Department of Agriculture’s (USDA) World Agricultural Supply and Demand Estimates released April 8.
Feed and residual use is lowered 25 million bushels to 5.625 billion based on indicated disappearance during the December-February quarter. Corn used to produce ethanol is raised 25 million bushels. With offsetting use changes, ending stocks are unchanged at 1.440 billion bushels.
The season-average farm...
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