The first survey-based forecasts for corn and sorghum sharply reduce this month’s outlook for 2011/12 U.S. feed grain production. Harvested acres and yield are reduced this month for corn, resulting in a projection for the third-largest corn crop on record, falling behind the 2007 and 2009 crops. Sorghum production is forecast down from last month, also on lower expected harvested acres and yield. Reductions this month in projected corn feed and residual, food, seed, and industrial (FSI) use, and exports lower total disappearance for 2011/12. Ending stocks for corn, sorghum, and barley are reduced and oats are increased slightly from last month. Prices for the four feed grains are expected to be stronger with tight domestic supplies and low global stocks. World coarse grain production for 2011/12 is down this month, but foreign production is up led by increased prospects for corn in Brazil and for corn and barley in Ukraine. Global coarse grain use is reduced by increased prospects for wheat feeding. Foreign coarse grain ending stocks are projected higher, offsetting about half this month’s decline in U.S. stocks.
Download Feed Outlook from the Economic Research Service U.S. Department of Agriculture, Aug. 15, 2011 (PDF) from the link below: