Higher U.S. production, ending stocks of coarse grain
Maize (Corn)
United States
Published Jan 13, 2022
Tridge summary
This month’s 2021/22 U.S. corn outlook is for higher production, greater food, seed, and industrial use (FSI), lower exports, and larger ending stocks. Corn production is estimated at 15.115 billion bushels, up 53 million on a 0.3-million acre increase in harvested area. Total corn use is virtually unchanged at 14.835 billion. Exports are lowered 75 million bushels to 2.425 billion, reflecting expectations of increased competition from other exporters. FSI use is raised 80 million bushels.
Original content
Corn used for ethanol is raised 75 million bushels to 5.325 billion, based on data through November from the Grain Crushings and Co-Products Production report and weekly ethanol production data as reported by the Energy Information Administration for the month of December. The projected amount of corn used for glucose and dextrose is raised 5 million bushels. Feed and residual use is unchanged at 5.650 billion, based on indicated disappearance during the September- November quarter as reflected by the Grain Stocks report. With use essentially unchanged and supply rising, corn stocks are raised 47 million bushels. The season-average corn price received by producers is unchanged at $5.45 per bushel. Global coarse grain production for 2021/22 is forecast 1.6 million tons lower to 1,500.1 million. This month’s foreign coarse grain outlook is for lower production, consumption, and stocks. Foreign corn production is forecast lower with declines for Brazil, Argentina, Kenya, Mexico, the ...
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