(Posted Mon. Dec 12th, 2011)
Dec. 12: While U.S. corn production this past year was impacted by several major weather-related events that cut acres and yield, taking a broader look shows how grain demands can be met by taking into account overseas production. This year, the U.S. Department of Agriculture is reporting record global corn, wheat and rice production.
“We always hold that, no matter the challenge we face, the global marketplace will respond to make sure all needs are covered,” said National Corn Growers Association President Garry Niemeyer. “When our production is reduced, we appreciate that other options are available for some of our end users. We live in a diverse and global marketplace and it’s important to support and expand trade, whether through pushing for beneficial trade agreements or improving outdated transportation infrastructure.”
In its monthly World Agricultural Supply and Demand Estimates Report issued Friday, USDA notes that global corn production this year is projected at a new record high of 867.5 million tons. A 3.5-million-ton decline in the United States was more than offset by a 43.4-million-ton increase in foreign corn production. Global wheat production this year is projected at a record 689 million tons, up more than 37 million from last year, and rice production worldwide is projected at a record 460.8 million tons, up 11 million tons from 2010.