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Market Commentary

Closing Comment 05/16


Corn futures closed higher on Wednesday. Corn contract closed strong, reversing losses in overnight trade. Strong export demand for US corn lifted prices. Exporters reported sales of 900,000 tonnes of corn to China, of which an increase of 240,000 tonnes is reported as new sales for delivery in 2012/13. July is 22 3/4 cents higher at $6.20 and December is 11 3/4 cents higher at $5.26 1/4.
Market Info
Home > Resource Centers > Corn > Corn production estimated up from November forecast

Corn production estimated up from November forecast

USDA  |   January 12, 2012

According to the USDA's Annual Crop Production Summary, corn for grain production is estimated at 12.4 billion bushels, up slightly from the November 1 forecast but 1 percent below 2010.

The average yield in the United States for 2011 is estimated at 147.2 bushels per acre. This is up 0.5 bushel from the November forecast but 5.6 bushels below the 2010 average yield of 152.8 bushels. Area harvested for grain is estimated at 84.0 million acres, up slightly from the November forecast and up 3 percent from 2010.

 

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