Just how big is the 2014 corn crop? USDA sees record harvest

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

grain unloading Cool, ideal summer weather set high expectations for the country’s corn crop, and the USDA’s latest World Agricultural Supply and Demand Estimates report shows just how much the crop benefited.

In Tuesday’s report, the USDA forecast 2014-2015 corn production at a record 14.03 billion bushels, 172 million bushels higher than forecast in the USDA's July report.

“The first survey-based corn yield forecast, at a record 167.4 bushels per acre, is up 2.1 bushels from last month’s trend-based projection,” the USDA wrote.

The report also projected

  • Record corn supplies for 2014-2015 at 15.24 billion bushels, with an increase in production partly offset by a 65-million-bushel reduction in beginning stocks;
  • An increase in corn use for ethanol and exports by 45 million bushels and 20 million bushels, respectively, for 2013-2014;
  • Slightly higher ending stocks for 2014-2015; and  
  • Lower season-average farm price, which is expected to range between $3.55 and $4.25 per bushel.

For soybeans, the USDA forecasts production to top 3.8 billion bushel due to a higher yield, which is projected at a record 45.4 bushels per acre. The season-average soybean price is expected to range between $9.35 and $11.35 per bushel, down 15 cents on both ends of the range.

The USDA sees reduced soybean imports and increased exports for 2013-2014.

“Imports are lowered 5 million bushels to 80 million based in part on revised import data for September – December 2013 from the U.S. Department of Commerce,” the USDA wrote. “Exports are raised 20 million bushels to 1,640 million reflecting both revised export data for September through December 2013 from the Department of Commerce and inspections data for July 2014. These changes are offset with lower residual use, leaving ending stocks unchanged at 140 million bushels.”

Click here to read the full report.


Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...


Comments (1) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left

michael    
kansas  |  August, 13, 2014 at 10:29 AM

Can anyone remember when they Did Not project a "record crop"… a prediction that automatically led to lower prices? Remember kids, this is Your Tax Dollars at Work (for the commodities traders). So, tell us again why all of us in the tax paying category need to spend 100$ of Million$ and employ thousands of bureaucrats to Manipulate our markets to benefit others? What other business or industry suffers from all this tax supported "help"?


Aluminum Grain Trailers

Maurer Manufacturing offers a complete line of high quality aluminum grain trailers. Manufactured in Spencer, Iowa, Maurer aluminum grain trailers ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form