Corn Supply Estimate Raised Despite Production Cut

Despite reductions to the corn production forecast Wednesday – overall corn supply estimates increased by 108-million bushels. National Corn Growers Association President Garry Niemeyer says the latest estimates illustrate how U.S. corn farmers provide the corn the nation needs – even under adverse conditions. Further – the Illinois grower says the increased overall supply shows you cannot count the corn before it is harvested. With harvest less than a quarter complete – Niemeyer says it’s important to wait patiently for a clearer picture of the crop to emerge.

Corn use in the 2012-13 crop marketing year are now forecast higher than previously expected due to increased expectations for feed and residual uses. The 75-million bushel increase from August estimates more than offset lower projected exports. Export projections fell by 10-million bushels for the current 2011-12 year – while projections for the 2012-13 crop fell 50-million bushels.

Ending stock projections for the 2012-13 crop are up 83-million bushels to 733-million. The projected season-average price dropped by 30 cents and now ranges from $7.20 to $8.60 per bushel.


SFNToday.com is dedicated to serving the agricultural industry in the Carolinas and Virginia with the latest ag news, exclusive regional weather station readings, and key crop market information. The website is a companion of the Southern Farm Network, provider of daily agricultural radio programming to the Carolinas since 1974. SFNToday.com presents radio programs, interviews and news relevant to crop and livestock production and research throughout the mid-Atlantic agricultural community.

Leave a Reply

Your email address will not be published. Required fields are marked *

*