U.S. corn and soybean prices have dropped to 4-year lows, resulting in massive stockpiles as farmers are unwilling to sell. This could cause grain to appear to be scarcer than it is as farmers wait for prices to rally. Though the pent-up supply of grain will limit any surge in prices. The U.S Department of Agriculture published a report stating that on June 1st U.S. corn stocks are at 4.99 billion bushels which is a 4-year high and up 22% from last year. Soybean stocks were also shown to be up 22% from a year ago. This has led farmers to decrease the amount of acreage dedicated to corn by about 3%.
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