Grains stocks report confirms tight supplies

The Grain Stocks report issued by USDA’s National Agricultural Statistics Service (NASS) at the end of March shows relatively tight March 1 stocks for each of the feed grains. U.S. corn feed and residual use is lowered 50 million bushels due to the recent runup in corn prices and increased prospects for wheat feeding this summer. Corn used to producer ethanol is increased by 50 million bushels this month as ethanol production

continues at near-record levels. The midpoints of the forecasts of the marketing year average prices received by farmers for corn, sorghum, and oats are unchanged this month, but the price ranges were narrowed. World coarse grain production and consumption are increased, especially for Sub-Saharan Africa, boosting global ending stocks prospects slightly...