USDA publishes 2009 Feed Yearbook
The Economic Research Service of the US department of Agriculture has released its annual Feed Yearbook which examines world and US production, consumption, trade, stocks, and prices for feed grains, with a strong focus on corn.
ERS calculated a record-high food, seed, and industrial use in 2008/09, largely on account of increased ethanol production.
This movement kept feed grain prices strong, despite rising ending stocks year-to-year for all feed grains.
The season average-farm price for corn was estimated at $4.06 per bushel in 2008/09, compared with $4.20 per bushel in 2007/08.
Grain sorghum prices were weaker over the period, as an increase in domestic use was more than offset by a decline in exports.
The 2008 barley crop was up from that of 2007, boosting supplies and ending stocks on the year.
Despite increased supplies, the all-barley farm price was $5.37 per bushel in 2008/09, up from $4.02 per bushel in 2007/08, reflecting higher prices for malting barley.
The season-average farm price for oats was stronger in spite of large supplies in Canada. Prices for all hay were up in 2008/09 from 2007/08.
Prices were strong because production in 2009 and stocks in December 1 were lower.
The full report can be downloaded from the ERS website.
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