Weather continues to be the main driver, as cool wet conditions in the northern Plains keep producers out of the field while in the southern Plains hot dry conditions reduced the potential size of the winter wheat crop. Corn and soybeans were under pressure from favorable weather forecasts.
US wheat stocks on March 1 were at 1.02 billion bushels, 22% lower on the year, the US Department of Agriculture said March 31, in its Quarterly Grain Stocks report. Of the total stocks, 174 million bushels were stored on farms, down 39% on the year, while off-farm stocks at 850 million bushels were down .