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Market Commentary

Morning Comments 06/19


After rallying strongly to start this week, corn futures slipped in Tuesday night trading. The decline was partly a reaction to the preceding gains and partly a response to favorable growing conditions across the Corn Belt. Some traders also expressed concerns about a market reaction if/when the Federal Reserve backs away from its current policy of extreme liquidity after its two-day meeting ends today. July corn dipped 3.25 cents to $6.70/bushel early Wednesday morning, while December slid 0.75 cent to $5.4975.
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Home > Resource Centers > Corn > Corn production drops 13% to 10.8 billion bushels

Corn production drops 13% to 10.8 billion bushels

USDA  |   August 10, 2012
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According to the USDA's Crop Prodution report, corn production is forecast at 10.8 billion bushels, down 13 percent from 2011 and the lowest production since 2006. Based on conditions as of August 1, yields are expected to average 123.4 bushels per acre, down 23.8 bushels from 2011. If realized, this will be the lowest average yield since 1995. Area harvested for grain is forecast at 87.4 million acres, down 2 percent from the June forecast but up 4 percent from 2011.

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B Posch    
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Canada  |  August, 10, 2012 at 07:56 AM

Do these numbers sound accurate? Especially that the acres harvested for grain will be down only 2% from the
June numbers? The Doane crop tour sounded more in line with reality.

R Kinney    
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illinios  |  August, 10, 2012 at 12:02 PM

usda isn't considering additional acreage to be chopped for feed because low hay supplies and reduced tonage of corn silage being made

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