U.S. corn stocks are expected to be at 1.113 billion bushels when the U.S. Department of Agriculture releases its quarterly stocks report on September 28, the lowest level in eight years in spite of an early harvest that brought more than 1 billion bushels of grain into the supply pipeline, according to surveyed industry analysts. The report will also mark the end of the 2011–2012 marketing season.
The estimate is down 15 million bushels from the 2010–2011 season and down from the USDA's September 12 estimate of 1.181 billion bushels. U.S. corn export shipments in the 2011–2012 season totaled 37.9 million metric tons (1.49 billion bushels), according to USDA, below the full-season forecast of 39.12 million metric tons (1.54 billion bushels). The USDA said 1.667 million metric tons of 2011–2012 sales were carried over to the next marketing year.
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