U.S. corn stocks are expected to be at 1.113 billion bushels when the U.S. Department of Agriculture releases its quarterly stocks report on September 28, the lowest level in eight years in spite of an early harvest that brought more than 1 billion bushels of grain into the supply pipeline, according to surveyed industry analysts. The report will also mark the end of the 2011–2012 marketing season.
The estimate is down 15 million bushels from the 2010–2011 season and down from the USDA's September 12 estimate of 1.181 billion bushels. U.S. corn export shipments in the 2011–2012 season totaled 37.9 million metric tons (1.49 billion bushels), according to USDA, below the full-season forecast of 39.12 million metric tons (1.54 billion bushels). The USDA said 1.667 million metric tons of 2011–2012 sales were carried over to the next marketing year.
Price increases due to the drought began rationing demand and the early harvested crop added bushels to stocks as of the September 1 quarter, which could lead to extreme price volatility if the USDA's estimate varies significantly from trade expectations, said experts. "The September grain stocks report has turned into quite a crapshoot," said Bryce Knorr, senior editor for Farm Futures Magazine. "While most of the surprises focused on corn the last two years, there's also uncertainty for soybeans and wheat." According to the analysts polled, U.S. wheat stocks on September 1 were at 2.278 billion bushels, up from 2.147 billion in 2011, and soybean stocks were at 131 million, down from 215 million in 2011.
U.S. September 1 soybean stocks are predicted to drop to 131 million bushels, according to the analysts, the lowest level since 112 million in 2003–2004. The figure closely matches the 130 million bushels that the USDA forecast earlier in September for 2011–2012 soy ending stocks. Some predicted a higher number, however, saying that carryover stocks from the previous year might be higher than they looked on paper. "I'm thinking that there is more likely to be a bearish surprise than a bullish surprise in the report," said Anne Frick, an oilseeds analyst with Jeffries Bache.
Near-record meat prices spur demand for animal feed
extension outreach appointment, Dr. Tom Overton, professor of dairy management
within Cornell University’s College of Agriculture, spends much of his time
working with NY dairies, their nutritionists and vets on issues related to
transition cow management. In his opinion, one of the areas of opportunity for
dairy farms can be found in the management of the pre-calving diet. With
his team, Overton is currently involved in a commercial research study involving
55 farms focused on the influence of particle size on dry cow diets. “We’re
finding that diets are quite sortable with large differences in particle size
distribution,” Overton explains. “[The industry] needs to do a better job in
terms of particle size to make [the rations] less sortable.” In a
total mixed ration, sorting is problematic because cows tend to favor the grain
component and therefor may not consume the necessary fiber and nutrients. In
this video, Overton discusses his team’s research involving pre-calving dairy
diets at the World Dairy Expo. The 2014 edition of
the World Dairy Expo, which was held in early October in Madison,
WI, drew more than
300,000 visitors from roughly 90 countries. The event featured 2,500 head of
dairy cattle and more than 250 exhibitors.
Can be used as substance for reduction of mycotoxin contamination of feed
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