Chart of the Week
After a sizable boost in 2015/16 ending stocks, those year-end stockpiles are expected to drop back again in 2016/17. Largely, this is due to a sizable drop in the size of the 2016 crop. Unknowns in the outlook include the final yield outcome. In addition, a large part of the crop is still in the field , with some crop possibly lost and other acres harvested in spring.