USDA Predicts Record 2010 Corn Crop
This month’s 2010/11 feed outlook from the USDA is shaped by the first survey-based forecasts for U.S. corn and sorghum production. The 2010 corn crop is forecast to be a new record. Sorghum production is forecast up slightly from last year. Corn food, seed, and industrial use and exports are both projected higher with the larger crop. Ending stocks for the four feed grains in 2010/11 are projected down from last month and down from 2009/10. Prices are expected to be stronger, with tighter domestic stocks and lower international grain supplies. Prospects for 2010/11 global coarse grain production decline this month mostly due to unfavorable weather across Europe, especially in Russia. The United States is expected to benefit from increased world corn trade and reduced competition, with 2010/11 corn exports projected up 100 million bushels this month to 2.05 billion.
Read report from link below (PDF).
