According to the latest USDA/NASS Grain Stocks report, stored corn as of December 2016 in the United States was nearly 12.4 billion bushels, 10% higher than December 2015. Iowa accounted for 19% of the U.S. total corn stocks with 2.4 billion bushels stored, and Illinois added nearly 2.0 billion bushels for 16% of the total. Minnesota and Nebraska each had over 1.4 billion for an additional 12% each.
December 2016 U.S. soybean stocks were also at a record high with nearly 2.9 billion bushels, 7% higher than December 2015. Illinois accounted for 482.3 million bushels (17% of U.S. total). Iowa added 457.8 million bushels (16%), and Minnesota had 275.1 million bushels (10%).
December 1 stocks in the U.S. for both corn and soybeans were at a new record high. On-farm storage capacity increased slightly since December 2015, and off-farm storage capacity increased about 2% since December 2015.
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