The U.S. ended the 2009/2010 crop year with an ending stocks/use ratio of nearly 50% in wheat - very large. An ending stocks/use ratio is a very popular way of assessing stocks and it measures just what the term implies – it is the amount of grain left over at the end of a crop year, relative to total usage (domestic and export). Prior to 2009, when did U.S. ending stocks/use of wheat last top 50%?

a.   1971

b.   1986

c.   1999    

d.   2001

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