USDA/WASDE reports increase in corn production

By Agri-Pulse staff

© Copyright Agri-Pulse Communications, Inc.

WASHINGTON, Jan. 12- The USDA National Agricultural Statistics Service released this month's Crop Production 2011 summary today. The following is information from today's Crop Production report as well as the World Agricultural Outlook Board's World Agriculture Supply and Demand Estimates (WASDE):

Corn for grain production is estimated at 12.4 billion bushels, up slightly from the November 1 forecast but one percent below 2010.

The average yield in the United States for 2011 is estimated at 147.2 bushels per acre. This is up 0.5 bushel from the November forecast but 5.6 bushels below the 2010 average yield of 152.8 bushels.

Area harvested for grain is estimated at 84.0 million acres, up slightly from the November forecast and up 3 percent from 2010.

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Corn use for 2011/12 is raised with higher exports. Exports are projected 50 million bushels higher reflecting the strong pace of sales to date and reduced prospects for Argentina. Ending stocks are projected 2 million bushels lower at 846 million bushels. The 2011/12 seasonaverage farm price for corn is lowered 20 cents per bushel on each end of the range to $5.70 to $6.70 per bushel.

Sorghum grain production in 2011 is estimated at 214 million bushels, down 13 percent from the November 1 forecast and 38 percent below 2010. Planted area is estimated at 5.48 million acres, up 1 percent from last year. Average grain yield, at 54.6 bushels per acre, is down 0.9 bushel from the previous forecast and down 17.2 bushels from last year.

Area harvested for grain, at 3.93 million acres, is down 18 percent from 2010.

Sorghum exports are reduced with the smaller crop and sluggish export sales. The sorghum farm price is projected 10 cents per bushel lower on both ends of the range to $5.60 to $6.60 per bushel based on reported prices to date.

Rice production in 2011 is estimated 185 million cwt, down 2 percent from the previous forecast and 24 percent below 2010. The average yield for all United States rice is estimated at 7,067 pounds per acre, down 100 pounds from the previous forecast but 342 pounds above the 2010 yield.

Planted area is estimated at 2.69 million acres, down 26 percent from 2010. Area harvested, at 2.62 million acres, is down slightly from the previous forecast and 28 percent below the previous crop year.

All rice exports are lowered 1.0 million cwt to 90.0 million-all in the long-grain class. The 2011/12 rough rice export projection is lowered 1.0 million cwt to 33.0 million.

The all rice season-average farm price is forecast at $13.80 to $14.80 per cwt, down 20 cents per cwt on both ends of the range.

Soybean production in 2011 totaled 3.06 billion bushels, up slightly from the November 1 forecast but down 8 percent from 2010. United States production is the sixth largest on record. The average yield per acre is estimated at 41.5 bushels, 0.2 bushel above the November 1 forecast but 2.0 bushels below last year's yield. Harvested area is down 4 percent from 2010 to 73.6 million acres.

Soybean exports are projected at 1.275 billion bushels, down 25 million from last month and down 226 million from 2010/11. Soybean ending stocks are projected at 275 million bushels, up 45 million. Soybean product changes include a lower soybean oil extraction rate, lower projected soybean oil exports, and increased soybean oil ending stocks.

The 2011/12 U.S. season-average soybean price range is narrowed 25 cents on both ends of the range to $10.95 to $12.45 per bushel. The soybean oil price is forecast at 50.5 to 54.5 cents per pound, unchanged from last month. The soybean meal price is projected at $290 to $320 per short ton, up 10 dollars on both ends of the range.

All cotton production is estimated at 15.7 million 480-pound bales, down 1 percent from last month and down 13 percent from 2010. The United States yield is estimated at 772 pounds per acre, up 1 pound from the December 1 forecast but down 40 pounds from last year. Harvested area, at 9.75 million acres, is down 1 percent from December and down 9 percent from last year.

Exports are reduced 300,000 bales to 11.0 million due to lower U.S. supplies and strong competition from foreign exports.

Ending stocks are raised to 3.7 million bales, equivalent to 25 percent of total use. The forecast marketing-year average price received by producers of 86 to 94 cents per pound is narrowed 1 cent on each end of the range.

Wheat ending stocks in the U.S. for 2011/12 are projected slightly lower this month as reductions in expected domestic use mostly offset higher projected exports. Food use is projected 5 million bushels lower based on flour production data recently reported by the North American Millers' Association for July-September 2011. Feed and residual use is projected 15 million bushels lower as December 1 stocks, reported in the January Grain Stocks, indicate lower-than-expected disappearance during September-November.

Projected exports are raised 25 million bushels based on the pace of sales and shipments to traditional markets. Increases for Hard Red Winter, White, and Soft Red Winter wheat more than offset a reduction for Hard Red Spring wheat. Ending stocks are projected 8 million bushels lower at 870 million. The 2011/12 season-average farm price is lowered 10 cents per bushel on each end of the range to $6.95 to $7.45 per bushel.

U.S. oilseed production for 2011/12 is estimated at 91.2 million tons, up 0.2 million tons from last month.

The 2012 forecast of total red meat and poultry production is raised from last month, largely reflecting increased pork production.

USDA's Quarterly Hogs and Pigs report estimated that the second-half 2011 pig crop was just over 2 percent higher than 2010 and indicated that producers plan a slight decline in sows farrowing in the first half of 2012.

Beef production is little changed from last month although adjustments are made to the quarters. USDA will release its Cattle report on January 27, providing an indication of producer intentions for heifer retention in 2012 and feeder calf availability.


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