St. Louis, Missouri
February 12, 2008
Source:
U.S. National Corn Growers
Associaiton (NCGA)
The
U.S. Department of Agriculture (USDA) today released its
annual agricultural sector projections looking ahead to 2017,
predicting stabilizing food inflation, increased corn acreage,
and continued increase in corn yields.
“Each year, USDA revises its long-range projections, which gives
us a snapshot of where they think the industry is heading over
the next 10 years,” said Paul Bertels, director of biotechnology
and economic analysis for the National Corn Growers Association
(NCGA). “With increased yields and a slight increase in
long-term corn acres planted, USDA fully expects growers to be
able to meet all demands in the years to come.”
According to the USDA, acreage planted for corn will drop
slightly to 88 million this year, but will rebound in 2009, and
continue in the 91 million-to-93 million acre range through
2017. Average yield per acre will continue to rise to 173.3
bushels by 2017, the department projects.
Livestock demand will continue to grow over this forecast.
Likewise, ethanol demand will grow steadily to 4.9 billion
bushels, or 33 percent of total use by 2017. Further, corn
exports are projected to decline slightly over the next several
years, but will begin to gradually rise to 2.475 billion bushels
by 2017. Ending stocks will range between 1.897 billion
(2007-08) and 1.202 billion (2009-10).
After increasing 4 percent this year, consumer prices for food
will gradually slow to 2.2 percent annual growth by 2011-17.
Complete information on the USDA report:
www.usda.gov/oce/commodity/ag_baseline.htm
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USDA
Agricultural Long-term Projections |
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Each year, USDA agencies
make long-term commodity projections used to prepare
the President's budget and forecast farm program
costs. The projections are released in February
following release of the President's budget.
The World Agricultural
Outlook Board chairs an Interagency Agricultural
Projections Committee to coordinate this activity
and improve the quality and consistency of
projections. The Committee Chairperson,
David
Stallings, can be contacted at 202-720-5715.
USDA Agricultural
Long-term Projections to 2017
The most recent
projections are available in:
-
PDF
-
Lotus 123 (Albert R. Mann Library, Cornell
University)
Copies can be
ordered from the National Technical Information
Service at
http://www.ntis.gov
or 1-800-999-6779.
Request document OCE-2008-1.
Long-term
Projections Process
Background on
USDA's long-term projections and past issues of the
report are available at the ERS Web site,
http://www.ers.usda.gov/briefing/projections. |
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