According to the U.S. Department of Agriculture’s (USDA) World Agricultural Supply and demand Estimate (WASDE) report released today, decreased demand forecasts for U.S. corn from ethanol markets will impact ending stocks, which are projected 45 million bushels higher than the previous month.
Notably, ethanol demand forecasts reflect data showing that corn use during the quarter from September through November fell relative to prior years for the first time since 2012.
The corn price forecast remained at $3.60 per bushel at the midpoint while the range narrowed to between $3.25 and $3.95.
Click here to read the full report.
NCGA is taking a series of actions to do our part to help contain the spread of the coronavirus (COVID-19) and the economic fallout it is creating for corn farmers and our customers. Short term, this means instituting policies to protect the health and safety of our stakeholders and the broader communities we serve. Long term, we’re focused on creating solutions to help corn farmers and our customers recover from the financial impacts of this crisis.
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