U.S. feed grain production for 2013/14 is projected at 376 million metric tons, up from 286 million in 2012/13. For the four feed grains combined, U.S. planted area is up 1.6 million acres. The 2013/14 corn crop is projected at a record 14.1 billion bushels, 3.4 billion above last season’s drought-reduced crop. Yields are forecast to average 158 bushels per acre, down 5.6 bushels from earlier expectations as mid-May plantings are likely to fall well short of the pace seen in recent years. As of the May 6 Crop Progress report, 12 percent of the corn crop had been planted in the 18 reporting States, compared with 69 percent last year and 47 percent for the 2008-2012 average. Total corn use for 2013/14 is projected at 12.9 billion bushels, 1.8 billion over 2012/13 but lower than 2009/10 and 20010/11, when total use exceeded 13 billion bushels. Disappearance is projected higher on increased use for feed and residual; food, seed, and industrial use; and exports. U.S. corn exports are expected to rebound to 1.3 billion bushels but remain well below recent year highs due to record global coarse grain supplies and stiff competition from corn produced in Brazil, Argentina, and Ukraine. U.S. corn prices are projected sharply lower, with the 2013/14 midpoint of the price range down 32 percent at $4.70 per bushel.
Download the complete USDA ERS Feed Outlook Report published May 14, 2013 from the link below (PDF)