U.S. feed grain supplies for 2012/13 are projected sharply lower again this month with corn production forecast 2.2 billion bushels lower. The forecast U.S. corn yield is reduced 22.6 bushels per acre to 123.4 bushels as extreme heat and dryness continued, and in many areas worsened, during July across the Plains and Corn Belt. As forecast, the 2012/13 corn yield would be the lowest since 1995/96.
Corn area harvested for grain is also lowered, down 1.5 million acres from the last month’s forecast that was based on the June Acreage report.
U.S. corn production for 2012/13 is forecast at 10.8 billion bushels, the lowest since 2006/07.
Relatively small increases in carryin and imports only partly offset this month’s substantial reduction in crop size. Ending stocks for 2011/12 are projected 118 million bushels higher with lower expected exports, reduced corn use for ethanol, and a small increase in imports. Imports for 2012/13 are also raised, up 45 million bushels to 75 million, reflecting strong domestic corn prices and competitively priced foreign supplies.
Total U.S. corn supplies for 2012/13 are projected down 2.0 billion bushels and at a 9-year low.
Ohio’s is expected to harvest 3.6 million acres of corn with an average yield of 126 bushels per acre. Total production is projected at 456 million bushels. In comparison, Ohio harvested 3.2 million acres of corn in 2011 with a yield of 158 bushels per acre for a total production of 509 million bushels.