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USDA Feed Outllok

U.S. corn planted acres for 2015/16 are forecast at 88.9 million acres, a 2-percent decrease from the 2014/15 estimate of 90.6 million and 0.3 million lower than March producer intentions. Corn area harvested for grain is down 0.6 million acres this month, and production is cut 100 million bushels. Beginning stocks are forecast 97 million bushels lower at 1.88 billion, with increased 2014/15 feed and residual, ethanol use, and exports.

Feed and residual and exports in the new marketing year are each lowered 25 million bushels, while corn for ethanol is projected 25 million higher. Lowered supplies and recently rising prices provide support for a 25-cent increase in the midpoint corn price, which, in turn, lifts all feed grain prices.

Foreign coarse grain supplies projected for 2015/16 are reduced and use is increased, mirroring U.S. changes and contributing to a 5.3-million-ton drop in projected global ending stocks to 222.1 million.

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Source: USDA


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