Corn production was revised up 80 million bushels from November 1 to 11.112 billion bushels. Even though USDA lowered the national average yield by 0.5 bushels per acre to 147.9, planted and harvested acreage increased 167,000 acres and 774,000, respectively. December 1 corn stocks were pegged at 9.813 billion bushels, up 360 million bushels (3.8%) from December 1, 2004. The stocks estimate does suggest feed use during the Sep-Nov period was record large at 2.217 billion bushels, up 42 million from the fall quarter of 2004. As a result, USDA boosted feed and residual use for the marketing year to 6.0 billion bushels, up 125 million from their previous estimate. However that increase in use was partially offset by a 50 million bushel cut in exports. The forecast now calls for exports of 1.85 billion bushels, just barely above last year's disappointing 1.814 billion and below the 2003/04 level. Corn ending stocks for 2005-06 are now forecast at 2.425 billion bushels, up 312 million from a year ago as the larger crop is mostly offset by stronger use. However, the season average price was revised up ten cents per bushel from last month.