The Philippines' corn stocks for January were down 6.2 percent from December 2011 numbers, to 166,100 metric tons as opposed to 177,100 metric tons, according to the country's latest reports.

Of the January stocks, 104,200 metric tons were commercial and 61,700 metric tons were household. The country's rice stocks were also down, by 15.2 percent, according to the reports. January stocks came in at 2.62 million metric tons compared to December 2011's 3.1 million metric tons. Of the January stocks, 600,000 metric tons were commercial and 980,000 metric tons were household; 1.04 million metric tons were National Food Authority stocks.