Informa See Record US Corn Crop In 2011

Posted by Nogger - a legend in his own mind at 11:07 | Categorized as

14/04/11 -- Informa Economics are forecasting a record 13.9 billion bushel (353 MMT) US corn crop this year, an increase of 11.7% on 2010, as US farmers look to cash in on record high prices.

That would see 2011/12 ending stocks increase from a very tight 575 million bushels (15.6 MMT) this season - note: 100 million lower than the USDA's widely dismissed estimate released last week - to 871 million (22.1 MMT).

Soybean output in 2011 will fall slightly from 3.33 billion bushels (90.6 MMT) to 3.30 billion (89.8 MMT), with 2011/12 ending stocks rising to 246 (6.7 MMT) million bushels from the USDA's 140 million (3.8 MMT) projected at the end of the current marketing year.

All wheat production in 2011 is estimated at 2.18 billion bushels (55.4 MMT) against 2.21 billion last year (60.1 MMT). Ending stocks for 2011/12 were pegged at 715 million bushels (19.5 MMT) against 839 million (22.8 MMT) in 2010/11.