Grain Stocks Slightly Up

The USDA's Quarterly Grain stocks report is out and old crop corn and beans are slightly up from projections.
Stocks reports like this help out farmers and market speculators by telling them how much corn, beans and wheat there are in the country.
Don Roose President of U.S. Commodities says it lets you know the exact amounts as of September 1st, "It tells you what kind of reserve we have to start at the end of the year, before we start the next year. What kind of a cushion we have to work with. So it gives us an idea of our supply."
Old crop corn is at 1.74 billion bushels, up a bit from last year. Of that, on farm storage is up six percent at 627 million bushels.
Old crop soybeans are up three percent at 197 million bushels. Soybean stocks on farms are down about 16 percent from last year, at 41.6 million bushels.