Corn Growers Projected to Harvest Third-largest Corn Crop, NCGA Notes (10-12-06)

Corn growers are expected to harvest 10.9 billion bushels of corn this fall, making it the third-largest crop on record, according to U.S. Department of Agriculture (USDA) National Agricultural Statistics Service’s (NASS) monthly crop production report released today. Yields are expected to average 153.5 bushels per acre, 5.6 bushels higher than in 2005.

National Corn Growers Association (NCGA) President Ken McCauley said forecasted production numbers continue to indicate corn growers will produce enough corn for all markets this year.

“Although USDA has trimmed production and carry-out stocks, production levels are forecasted to be the third-largest on record, showing that corn growers will satisfy our customers’ needs,” he said. “Strengthening corn prices are a clear indication that the market is trying to bid more acreage into corn next year.”

Feed and residual uses were reduced by 25 million bushels to 6.1 billion. Ending stocks are projected to be 996 million bushels, down 224 million bushels from September. Other key uses were held the same, with exports projected to amount to 2.25 billion and ethanol expected to consume 2.15 billion bushels.

USDA revised estimated planted acreage, which is down 800,000 “based on administrative information,” which also leads to a corresponding 800,000 reduction in harvested acres.

Drought and adverse weather conditions possibly reduced the yields across the Corn Belt. Northern and eastern Corn Belt producers are experiencing better–than-expected yields. Yields across the northern and southern Great Plains are unchanged from September’s forecast.

As of Oct. 1, only 20 percent of harvest was complete compared with 25 percent last year and 23 percent for the five-year average.

“There is still a lot of corn to bring in,” McCauley said.

To view the NASS report, visit www.nass.usda.gov.