The November 2017 Feed Outlook report contains projections for 2016/17 and 2017/18 U.S. and global feed markets based on the most current World Agricultural Supply and Demand Estimates.
A 3.6-bushel-per-acre boost in the forecast national average corn yield, reported in USDA’s National Agricultural Statistics Service Crop Production report, resulted in a near 300-million-bushel increase in U.S. corn supplies to 16.9 billion bushels. Use is projected higher with increases of 75 million bushels for both feed and residual use and exports, respectively.
World coarse grain production is projected higher this month, led by the increase in U.S. production. Projected U.S. corn exports are raised and are expected to offset lower output in Ukraine and help close Mexico’s feed grain gap as the country’ sorghum output is forecast down.
