Bloomberg survey shows Dec. 1 corn stocks highest since 1994

In Illinois, a Bloomberg survey of 24 analysts estimated that corn stocks on Dec. 1 were 10.764 billion bushels, the highest since 1994 and 34% higher than on the same date last year. Corn futures have fallen 40% in the past year and one analyst says corn could come down to $3.75 a bushel due to the excess supply overhanging the market while another analyst said it could take at least two years for demand to catch up with current supplies.