The U.S. Department of Agriculture’s March 2010 World Agricultural Supply and Demand Estimate, report 480-15, tabulated projections for corn and soybean production and use levels for the 2009-2010 harvest. Ethanol production will represent 77% of the “food, seed and industrial” category and 32.7% of projected corn production. Average farm price for corn will range from $3.45 to $3.75 per bushel, with the average farm price for soybeans from $8.95 to $9.95 per bushel.
Soybeans 2009/2010 Projection
| Harvested | 76.4 million acres |
| Yield | 44 bushels/acre |
| Beginning stocks | 138 million bushels |
| Production & imports | 3,359 million bushels |
| Supply (with imports) | 3,512 million bushels |
| Crushings | 1,730 million bushels |
| Exports | 1,420 million bushels |
| Seed & residual | 172 million bushels |
| Ending stocks | 190 million bushels |
| Average farm price | $8.95 to $9.95/bushel |
Source: USDA-WASDE 480-15, March 2010
Corn 2009/2010 Projection
| Harvested | 865 million acres |
| Yield | 164.9 bushels/acre |
| Beginning stocks | 1,673 million bushels |
| Production & imports | 13,131 million bushels |
| Supply (with imports) | 14,814 million bushels |
| Crushings | 5,550 million bushels |
| Exports | 5,565 million bushels |
| Seed & residual | 4,300 million bushels |
| Ending stocks | 1,900 million bushels |
| Average farm price | $3.45 to $3.75/bushel |
Source: USDA-WASDE 480-15, March 2010
