NCGA: USDA Forecast of 11 Billion Bushels Good for Corn Growers (11-14-05)

The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) released its November crop production numbers, and the forecast is good for the U.S. corn grower, the National Corn Growers Association (NCGA) notes. Corn growers are on pace to produce 11.032 billion bushels, the second-biggest crop on record and an average of 148.4 bushels per acre.

In October, the NASS projected the corn crop to reach 10.9 billion bushels or 146.1 bushels per acre. Corn ending stocks for November are up 99 million from last month and 207 million from last year. Corn’s price has continued to drop, falling to an average price of $1.60 to $2.00.

Iowa and Minnesota have the largest bushel per acre average at 175 and 171, respectively. Wisconsin and Minnesota experienced the biggest jump in production averages since October. Wisconsin’s bushel per acre average rose from 138 to 150, and Minnesota’s climbed from 160 to 171.

“With two bumper crops in a row, you can see the importance of growers’ checkoff dollars at work,” said Paul Bertels, NCGA director of biotechnology. “Far and away, the majority of checkoff dollars go toward projects that increase demand.”

“We have had record demand the past four years and record production the past two years,” said NCGA CEO Rick Tolman. “Corn growers can easily satisfy the demands of all of our markets. Livestock and exports are stable markets that we will always satisfy. With our record production, we will also be able to satisfy the renewable fuels and plastics markets.”

In 2004, U.S. farmers produced a record 11.8 billion bushels of corn, or 160.4 bushels per acre.