USDA forecasts higher feed grain supplies
WASHINGTON – Feed grain supplies for 2012-2013 are projected higher on increases in corn and sorghum production, according to the US Department of Agriculture’s Economic Research Service (ERS).
Corn production is forecast 19 million bushels higher, and sorghum production is forecast to increase by 4 million bushels, according to ERS. US corn and sorghum yields are projected at 122.3 bushels per acre and 51.1 bushels per acre. This represents an increase of 0.3 bushels per acre for corn and sorghum, ERS said.
Corn supplies for 2012-2013 are forecast to increase 45 million bushels, but this remains a nine-year low, according to ERS. Tight corn supplies are expected to lift prices to record-highs. Corn use is forecast 17 million bushels higher with increased use for feed, seed and industrial purposes. ERS expects ending stocks to climb 28 million bushels to 647 million bushels, the lowest since 1995-1996.
Projected world coarse grain supplies, use and ending stocks for 2012-2013 are expected to increase slightly in November. Exports of US corn are forecast to remain unchanged in November despite a slow start because competitor’s shipments are expected to slow later in the year, according to ERS.