The U.S. Department of Agriculture’s March 2010 World Agricultural Supply and Demand Estimatereport 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

Advertisement

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