St. Louis, Missouri, USA
May 11, 2011
Today's projection of a record 13.5 billion bushel corn crop for 2011 provides further evidence that corn growers will be able to meet all needs for food, feed and fuel yet again, despite weather challenges that delayed planting in much of the Corn Belt, the National Corn Growers Association said. A strong corn market that has led to higher expected corn acres will help boost the corn supply.
"It's busy season for growers throughout the Corn Belt," said NCGA President Bart Schott of Kulm, N.D. "We work long days and nights when the weather is just right, or just good enough. The good news is that there are still many months to go for this bin-buster crop to emerge and become one for the record books. You can't determine a crop size or crop quality based solely on the date it gets into the ground."
In its first report on supply and demand for the corn crop now being planted across the Corn Belt, the U.S. Department of Agriculture projects that 2011 corn production will total 1.1 billion bushels more than 2010, due to an expected increase of 4 million planted acres. The 2011 average corn yield is projected at 158.7 bushels per acre, nearly six bushels over 2010.
The USDA further reports that total corn supply for the 2011-12 marketing year is projected at 14.3 billion bushels, and total U.S. corn use is projected at 13.4 billion bushels, down 1 percent from 2010. Corn use for ethanol is projected up 50 million bushels, reflecting a slow expected growth in gasoline consumption and continued export demand for ethanol in the coming year.
Domestic corn feed and residual use is projected 50 million bushels lower than in 2010, reflecting the increased availability of feed co-products from ethanol production and lower expected residual use as compared with the current year. U.S. corn exports for 2011 are projected down 100 million bushels from 2010, with larger foreign corn supplies.
U.S. corn ending stocks for 2011-12 are projected at 900 million bushels, up 170 million from the current year projection. USDA also made minor revisions to the current 2010-11 crop demand estimate, resulting in an increase to carry-out of 730 million bushels.
USDA projects global coarse grain production for 2011 is projected at a record 1,146.8 million tons, up 6 percent from 2010.
Click here for the full report from the USDA.
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