St. Louis, Missouri
January 11, 2008Corn
production in the United States hit a record high in 2007, at a
projected 13.074 billion bushels, the U.S. Department of
Agriculture stated in its annual crop production summary
released today. Average yield was second highest on record, at
151.1 bushels per acre. While these figures were both decreased
from November estimates, they are still significantly higher
than 2006, the National Corn
Growers Association (NCGA) noted.
“2007 was a terrific year for
corn production,” said Ron Litterer, NCGA president and a grower
from Greene, Iowa. “We planted more acres, showing we can meet
all market demand. We’re excited about 2008 but we know we have
many challenges ahead of us.”
The USDA reported that, of 93.6
million acres planted, 86.5 million were harvested. In its World
Agricultural Supply and Demand Estimate, also released today,
the USDA reports a projected total supply (including carry-in,
production and import) of 14.393 billion bushels. Of this, 5.95
billion bushels are projected for feed and residual, 3.2 billion
bushels for ethanol and coproducts and 1.355 billion for other
domestic food, seed and industrial use. Further, 2.45 billion
bushels are projected for export and a carryover, or surplus, of
1.438 billion bushels is expected. The season-average farm price
for corn is projected at $3.70 to $4.30 per bushel.
Click here for the USDA’s 2007 Crop Production Summary.
Click here for the World Agricultural Supply and Demand
Estimates.
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