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Stronger 2010/11 Corn Prices Expected;World Coarse Grain Production Prospects Cut

Forecast 2010/11 prices for all four feed grains are raised this month, as feed grain ending stocks are projected lower

July 13, 2010

Stronger 2010/11 Corn Prices Expected; World Coarse Grain Production Prospects Cut
U.S. feed grain production in 2010 is expected to be down from last month reflecting lower planted acreage as forecast in the June 30 Acreage report. Feed grain production is projected up from 2009 as planted and harvested area are up from last year for corn, more than offsetting year-to-year reductions for sorghum, barley, and oats. Adjustments are made in 2009/10 use this month to reflect June 1 stocks. The resulting changes lower 2009/10 ending stocks and 2010/11 supplies. Forecast 2010/11 prices for all four feed grains are raised this month, as feed grain ending stocks are projected lower. U.S. corn exports for 2010/11 are decreased based on stronger U.S. prices. Foreign coarse grain ending stocks for 2010/11 are down slightly more than U.S. stocks, mostly due to reduced barley production prospects. During 2010/11, world coarse grain stocks are projected to decline 5 percent. Download report from link below (PDF).

stronger-201011-corn-prices-expectedworld-coarse-grain-production-prospects-cut

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