Corn stockpiles are reaching record lows even as demand is reaching record highs.
Global stockpiles of corn are expected to reach their lowest numbers since 1974, in spite of a fifth consecutive year of record corn harvests, due to increased demand and weather-induced yield decreases, according to reports.
Global inventory may be reduced to 47 days of use, according to experts, even as consumption is estimated to rise 3% in the next year, adding to a 16-year trend that has so far resulted in an overall increase of 66%. China alone is expected to increase its demand by 47% compared to numbers a decade ago. “There is a storm developing in agriculture,” said Jean Bourlot, global head of commodities at UBS AG. “If we have the slightest disruption in any part of the world, the effect on the price will be considerable.” The reduced inventory has been exacerbated by recent weather in the U.S., which delayed planting and resulted in acreage losses.
Corn prices have reached an average of $7.02 per bushel since Dec. 31, and futures are reaching record highs — in early June, Hussein Allidina, head of commodity research at Morgan Stanley, said numbers could hit $9 per bushel if current conditions continue. July futures as of 12:30 p.m. EDT on June 21 stood at $7.074 per bushel.
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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