My calculation of domestic corn monthly stocks-to-use continues to tighten, based on analysis of the marketing year average of the cmdty National Corn Price Index. The end of January saw this price come in at $4.01 (green line), as compared to the end of December’s $3.81. Given the higher average cash price, the stocks-to-use calculation fell from 11.9% at the end of December to 11.6% at the end of January. Looking at marketing year final stocks-to-use numbers, the 11.6% for 2020-2021 has drawn closer to the 11.3% calculated at the end of the 2013-2014 marketing year (cash price averaged $4.21). Beyond that is my calculation for 2007-2008 of 10.4% when the average cash price was $4.77.