Corn supply and use forecast lower this month for 2013-2014
U.S. corn supply projections for 2013-2014 are lowered 125 million bushels this month. With acreage unchanged, the 1.5 bushel-per-acre decline in yield results in forecast production of 14.0 billion bushels and total supply of 14.8 billion.
Forecast total use is down 70 million bushels this month to 12.9 billion. Feed and residual use is lowered 125 million bushels to 5.2 billion.
Corn use for ethanol is increased 50 million bushels to 4.9 billion, reflecting expectations for favorable ethanol producer margins and high renewable identification number (RIN) prices, which will also impact production prospects for 2013-2014. Changes in high-fructose corn syrup, glucose and dextrose, beverage and manufacture, and cereals and other products total 5 million bushels and result in a total FSI increase of 55 million bushels from last month’s projection.
The resulting ending stocks are forecast 55 million bushels lower this month at 1.9 billion, compared with 769 million forecast for 2012-2013.
- Ag markets firmed Tuesday morning
- New soybean webcast addresses fungicide resistance
- Leader, scientists call for cooperation in agro-technology
- Grants available for CASE certification and equipment
- Export customers commit to buy $2.3 billion of U.S. soy
- Second company sues Syngenta over Agrisure Viptera
- U.S. GMO labeling foes triple spending in first half of this year
- Activists fighting Golden Rice even more in 2014
- Source shows half of GMO research is independent
- White House issues veto threat on bill to block WOTUS rule
- East-West Seed signs marketing collaboration with Monsanto
- Stoller soybean research produces 214 bushels per acre