Outlook: Record US corn crop expected
Corn production in the US is forecast in September at a record 13.3 billion bushels, up 254 million from last month, because of higher yields.
The forecast yield of 155.8 bushels per
acre would be the second highest ever. Sorghum yields are also forecast at a
record 73.9 bushels per acre. Sorghum production is forecast at 495 million
bushels.
Ethanol production forecast was lowered for both 2006/07 and in
2007/08, based on current capacity and reported production. Exports were raised
this month to offset lower grains production in other parts of the world. Prices
for feed grains remain strong, supported by record wheat and strong soybean
prices.
Barley and oats production were not revised in the September Crop
Production report. Any production revisions will be reported in the Small Grains
2007 Summary to be released September 28, 2007.
Higher barley
exports
Because of the tight supplies of feed grains in the EU-27,
projected barley exports in 2007/08 were raised 5 million bushels this month to
25 million and stocks were lowered.
Forecast oats imports were raised 5
million bushels, because of the large 2007 crop in Canada. Projected ending
stocks were raised a corresponding amount, bringing stocks more in line with
prior years.
For the full report read USDA Outlook.
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