Rise in US feed grain supplies

This is according to the latest Feed Outlook, published by the USDA.

With carryin down less than 1 million tons, supply is projected at 433.2 million tons. Projected feed grain use is raised 3.7 million tons this month (July) to 390.2 million. Ending stocks are projected 0.8 million tons lower at 43.0 million tons, 12.0 million below 2017/18.

Reduction in imports

Corn use accounted for most of the increase in use. Disappearance was also raised for sorghum and oats and lowered for barley. For 2017/18, feed grain supply is projected 0.2 million tons lower this month (July) at 449.0 million due to a reduction in imports based on reported imports to date. Use is projected 0.7 million tons higher at 393.9 million due to increased corn export prospects, corn used for ethanol, and export data reported to date.

2018/19 US corn predictions

Projected supply for the 2018/19 US corn crop is raised 115.0 million bushels this month on higher production offset by lower carryin. Supply is projected at 16,307 million bushels, 630 million below the revised projection for 2017/18. USDA’s National Agricultural Statistics Service (NASS) Acreage report released June 29 raised harvested acreage by 1.1 million acres to 81.8 million, boosting production by 190 million bushels to 14,230 million. Offsetting the production increase is a 75-million decline in carryin from the 2017/18 crop.

[Source: USDA]