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Market Commentary

Afternoon Comments 05/23


Corn futures seemingly suffered a relapse in the wake of their Wednesday rally Thursday morning, but came back later. Persistent cash market firmness probably boosted prices, as did the weekly USDA Export Sales report. The old crop result, at 104,500 tonnes, came in at the lower end of expectations, but the new crop figure, at 341,600 tonnes topped all published forecasts. July corn climbed 3.5 cents to $6.62/bushel at its Thursday close, while December added 4.25 cents to $5.3475.
Market Info
Home > Resource Centers > Corn > USDA: Corn production down 13% from 2011

USDA: Corn production down 13% from 2011

USDA  |   November 9, 2012
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According to the USDA's latest Crop Production report, corn production is forecast at 10.7 billion bushels, up slightly from the October forecast but down 13 percent from 2011. This represents the lowest production in the United States since 2006.

Based on conditions as of Nov. 1, yields are expected to average 122.3 bushels per acre, up 0.3 bushel from the October forecast but 24.9 bushels below the 2011 average. If realized, this will be the lowest average yield since 1995.

Area harvested for grain is forecast at 87.7 million acres, unchanged from the October forecast and up 4 percent from 2011.

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Henry Parsons    
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MA  |  November, 10, 2012 at 09:08 PM

So the Ethanol Mandate should be reduced by at least 13% for this year.

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