Cheap GMO Corn Available This Year

 

Cool, ideal summer weather set high expectations for the country’s corn crop, and the USDA’s latest World Agricultural Supply and Demand Estimatesreport shows just how much the crop benefited.

 

In Tuesday’s report, the USDA forecast 2014-2015 corn production at a record 14.03 billion bushels, 172 million bushels higher than forecast in the USDA’s July report.

 

“The first survey-based corn yield forecast, at a record 167.4 bushels per acre, is up 2.1 bushels from last month’s trend-based projection,” the USDA wrote.

 

The report also projected

 

  • Record corn supplies for 2014-2015 at 15.24 billion bushels, with an increase in production partly offset by a 65-million-bushel reduction in beginning stocks;
  • An increase in corn use for ethanol and exports by 45 million bushels and 20 million bushels, respectively, for 2013-2014;
  • Slightly higher ending stocks for 2014-2015; and
  • Lower season-average farm price, which is expected to range between $3.55 and $4.25 per bushel.

 

For soybeans, the USDA forecasts production to top 3.8 billion bushel due to a higher yield, which is projected at a record 45.4 bushels per acre. The season-average soybean price is expected to range between $9.35 and $11.35 per bushel, down 15 cents on both ends of the range.

 

The USDA sees reduced soybean imports and increased exports for 2013-2014.

 

“Imports are lowered 5 million bushels to 80 million based in part on revised import data for September – December 2013 from the U.S. Department of Commerce,” the USDA wrote. “Exports are raised 20 million bushels to 1,640 million reflecting both revised export data for September through December 2013 from the Department of Commerce and inspections data for July 2014. These changes are offset with lower residual use, leaving ending stocks unchanged at 140 million bushels.”

 

Click here to read the full report.

 

 

Advertisements

1 Comment (+add yours?)

  1. John Weeks
    Sep 15, 2014 @ 07:42:36

    Your GMO [BS] is not kossher.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: