(Posted Fri. Sep 30th, 2011)
Sept. 30: Corn supplies for the coming year are higher than previously estimated, according to the U.S. Department of Agriculture’s Grain Stocks report released today. With the total carry-out estimate revised to include an additional 200 million bushels more than the Sept. 12 estimate, this new data indicates that carry-out stocks, coupled with an estimated 12.497 billion bushels of production in 2011, will provide more than 13.6 billion bushels of U.S. corn this year.
“Corn farmers have remained resilient throughout a difficult growing season, working tirelessly to grow an abundant crop,” said National Corn Growers Association President Bart Schott. “With the additional corn carry-over incorporated into previous estimates, it is becoming increasingly evident that, while this may not be a record-breaking year for total production, we are still able to provide a reliable, affordable crop capable of supplying corn to meet an ever-growing demand.”
At month’s beginning, estimates indicate that there were 1.1128 billion bushels of corn in all positions. While this is nearly 580 million bushels fewer than last year at this time, the overall corn supply remains robust and will meet all needs for food, feed and fuel.
For the full report, click here.