| USDA Corn Crop Projection Remains Positive |
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| Written by NCGA | |
| Monday, 13 July 2009 | |
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Washington, DC - With 87 million acres planted in field corn, U.S. farmers are expected to harvest a corn crop this year of 12.3 billion bushels, the second-largest crop on record, according to the U.S. Department of Agriculture. The estimate of 80.1 million acres to be harvested, at 153.4 bushels per acre, means a good supply of corn for all our nation’s needs, the National Corn Growers Association said.
“This estimate is definitely on par with what we’ve been seeing in the fields,” said NCGA President Bob Dickey, a grower in Nebraska. “We still have some areas of concern, especially in the eastern Corn Belt, where the corn remains low to the ground in places, but we’re very pleased overall with how the crop is turning out, compared to how it could have been.” Earlier this week, USDA rated 71 percent of the U.S. corn crop in good or excellent condition, compared with 62 percent at the same time last year. In its acreage report issued at the end of June, the USDA reported 2 million more acres planted than previously anticipated. The new supply-and-demand report means growers will produce an additional 355 million bushels. Total corn supply for the 2009-10 crop year, taking into account beginning stocks of 1.8 billion bushels, is estimated at 14.1 billion bushels. Corn Uses. The USDA report projects feed and residual use for 2009-10 at 5.2 billion bushels, while corn demand for other domestic uses (food, seed, and industrial use) is at 5.375 billion bushels. Of this amount, ethanol and distillers grains production will use 4.1 billion bushels. Exports of corn are projected at 1.95 billion bushels. Ending stocks is projected at 1.6 billion bushels. The 2009-10 average farm price for corn is projected at $3.75 per bushel, down 30 cents from the previous year. Click here for the USDA’s July 10 World Agricultural Supply and Demand Estimates report. |
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