The U.S.–China trade war has caused a lot of soybeans to stay at home rather than make the trek across the Pacific, but American surplus grain stocks have been growing for years. The volume of soybeans in storage this past 1 September was 108 percent greater than the year earlier. Stores of corn and wheat were also higher, though off-farm storage of wheat declined. Notably, nearly all the increased grain in storage this year has accumulated on the farm rather than in commercial facilities. Overall, grain stores have risen 35 percent over the past five years, with on-farm storage outpacing commercial holdings by 18 percent. Farmer-controlled storage is believed to enable better pricing control by producers but some wonder if income in...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, China, North America