USDA forecasts second-largest corn yield in history
U.S. corn production in the country is expected to be 193 million bushels higher than previous estimate.
A record yield of 13 billion bushels of corn — the second-largest crop in U.S. history — together with a 100-million-bushel increase in exports is set to happen this year, according to USDA's World Agricultural Supply and Demand Estimates.
Corn production in the country is expected to be 193 million bushels higher than USDA's report last month. National average yield, according to the USDA, is projected at a record 161.9 bushels per acre.
U.S. corn exports for 2009-10 is estimated to be 100 million higher due to higher import demands from Canada and lower production in South America and China. Beginning stocks have been lowered 25 million bushels as corn use for ethanol in 2008-09 is expected to rise.
Sorghum production for 2009-10 is expected to rise 9 million bushels. Beginning stocks have been projected to decline 10 million bushels based on a 10-million-bushel increase in 2008-09 exports. Exports are projected to remain steady at 140 million bushels due to stable demand in Mexico.
Barley 2009-10 exports, although down from 2008-09, remain firm from the last report at 15 million bushels.