Bumper Corn Crop Predicted for 2010

As expected, the U.S. Department of Agriculture (USDA) in it first estimate of the size of this year’s corn crop, is projecting the crop to be a bin-buster

As expected, the U.S. Department of Agriculture (USDA) in it first estimate of the size of this year’s corn crop, is projecting the crop to be a bin-buster – an all-time record 13.4 billion bushels.

Today’s report suggests:

  • Corn supplies are projected at a record 15.1 billion bushels, 325 million higher than 2009/10. This would be the first time corn supplies have ever surpassed the 15-billion-bushel mark.
  • Corn production for 2010/11 is projected at a record 13.4 billion bushels, an increase of 260 million bushels from 2009/10.
  • USDA predicts 88.8 million acres of corn to be planted, a slight increase from 2009, but below corn acreages planted in the past.
  • Corn yield projections are 163.4 bushels per acre, up slightly from 2009, but below corn acreage yields of some past years.
  • Year-end surpluses for 2010/11 are expected to be 1.8 billion bushels, an increase over last year.
  • Corn use for ethanol in the 2010/11 marketing year (Sept. 1-Aug. 31) is estimated to be 4.6 billion bushels. This converts to 12.85 billion gallons of ethanol and about 38 million tons of livestock feed products, including distiller’s dried grains with solubles.