Listen Here: Agribusiness Matters 6-13-16
by Ken Root and Whitney Newman
The USDA World Agriculture Supply and Demand Report came out on Friday afternoon, it may not be right come harvest, but it is the best guess right now on production usage and resulting price. Projected corn production for this coming year 2017-2017 is a record 14.430 billion bushels. The basis for determining the yield will be sharpened by June 30. Corn ending stocks for the current year are reduced 95 million bushels as 100 million bushel increase in the corn export forecast more than offsets the slightly higher import projection. As of early June, U.S total corn export commitments are above year ago levels for the first time in this marketing year. Reduced corn production in Brazil, and harvest delays in Argentina have improved the relative competitiveness of U.S corn in recent weeks.
