Missouri corn stocks lowest in 15 years

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Missouri News Horizon
– A confluence of invents, including global droughts and high demand from ethanol producers, has driven Missouri corn stocks to their lowest point since 1996.

Inventory of old crop corn in all positions in Missouri at the beginning of September totaled only 17.2 million bushels, down 67 percent from the level a year prior. On-farm stocks accounted for 5.7 million bushels, while off-farm bushels accounted for 11.5 million, declines of 75 and 60 percent respectively.

According Tommy Sallee, an agricultural statistician with the USDA’s Missouri field office, supplies failed to bounce back from their already low levels at the beginning of the growing season. Part of that has to do with the increased demand on U.S. agricultural commodities in the aftermath of dramatic droughts in Asia that have hurt crop production abroad.

Sallee also said the huge demand for corn by ethanol producers has put more pressure on farmers to move more of their supplies out the door.

“So between the high ethanol use and the high exports and the high prices and the low stocks to begin with, there’s been incentive for corn to move out of storage and into use,” he said.