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USDA reports corn production up on higher yields

Corn harvested acreage declines 1.9 million acres from the September forecast, falling to 87.2 million acres. The forecast yield is advanced 5.1 bushels per acre, and the combined effect raises this month?s forecast production 146 million bushels to 13,989 million. Increased production and beginning stocks boosted corn supplies 307 million bushels. Projected feed and residual is increased 100 million bushels with the larger crop. The pace of export sales for 2013/14 have been strong, supporting a 175 million-bushel gain in projected exports for the marketing year to 1,400 million bushels. Lower corn prices make U.S. corn supplies more competitive on the world market. Ending stocks are projected 32 million bushels higher at 1,887 million bushels, more than twice last season?s carryout. World beginning stocks of corn are boosted sharply by a reduction in expected industrial use in China and other revisions to 2012/13 supply and demand. Increased production and beginning stocks for 2013/14 boost global coarse grain supply much more than use, leaving projected ending stocks for 2013/14 matching the large level reached in 2009/10.

November 21, 2013

Corn harvested acreage declines 1.9 million acres from the September forecast, falling to 87.2 million acres. The forecast yield is advanced 5.1 bushels per acre, and the combined effect raises this month’s forecast production 146 million bushels to 13,989 million.

Increased production and beginning stocks boosted corn supplies 307 million bushels.

Projected feed and residual is increased 100 million bushels with the larger crop. The pace of export sales for 2013/14 have been strong, supporting a 175 million-bushel gain in projected exports for the marketing year to 1,400 million bushels. Lower corn prices make U.S. corn supplies more competitive on the world market. Ending stocks are projected 32 million bushels higher at 1,887 million bushels, more than twice last season’s carryout.

World beginning stocks of corn are boosted sharply by a reduction in expected industrial use in China and other revisions to 2012/13 supply and demand. Increased production and beginning stocks for 2013/14 boost global coarse grain supply much more than use, leaving projected ending stocks for 2013/14 matching the large level reached in 2009/10.

Download the complete USDA Feeds Outlook Report (PDF)

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This report was not published in October 2013 due to the Federal government shutdown. The analysis presented in this report incorporates the September 30 NASS Grain Stocks and Small Grains reports, and the November 8 Crop Production report.

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