Corn reports tout near-record production, increased carry-out
February 4, 2009
A Jan. 12 USDA report indicated that U.S. farmers produced the second-largest corn crop and the second-highest average yield per acre in history during the 2008 growing season.
The yields and total production level are particularly noteworthy considering the unprecedented adverse weather conditions that plagued much of the Corn Belt during the early part of the growing season and a later-than-usual harvest in the fall.
"January's USDA report paints a very clear picture of the productivity potential of American farmers and dispels the misconception that ethanol is at the root of higher corn and food prices," said Renewable Fuels Association President Bob Dinneen. "With an expected surplus of nearly 2 billion bushels at the end of this marketing year, it is clear that farmers can supply ample feedstock for food, feed, fiber and renewable fuel production."
The USDA also released updated world corn supply and demand estimates on Jan. 12. It showed slightly reduced demand for corn use for ethanol. Because of corn reductions in all corn demand segments, USDA dramatically raised its projection of corn carry-out at the end of the 2008-'09 marketing year. At a projected 1.8 billion bushels, projected 2008-'09 carry-out would be at one of the highest levels in the past decade.
The yields and total production level are particularly noteworthy considering the unprecedented adverse weather conditions that plagued much of the Corn Belt during the early part of the growing season and a later-than-usual harvest in the fall.
"January's USDA report paints a very clear picture of the productivity potential of American farmers and dispels the misconception that ethanol is at the root of higher corn and food prices," said Renewable Fuels Association President Bob Dinneen. "With an expected surplus of nearly 2 billion bushels at the end of this marketing year, it is clear that farmers can supply ample feedstock for food, feed, fiber and renewable fuel production."
The USDA also released updated world corn supply and demand estimates on Jan. 12. It showed slightly reduced demand for corn use for ethanol. Because of corn reductions in all corn demand segments, USDA dramatically raised its projection of corn carry-out at the end of the 2008-'09 marketing year. At a projected 1.8 billion bushels, projected 2008-'09 carry-out would be at one of the highest levels in the past decade.
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