Feed and residual use of all feed grains through the current September-August marketing year 2009-2010 will total 144.3 million tons and account for 41 percent of total use, according to the report. Corn will account for about 92 percent of total grain feed and residual use.
The agency projects corn prices for the 2009-2010 marketing year at $3.35 to $4.15 per bushel, down 55 cents on both ends of the range from last-month’s forecast. The estimated average price for the current marketing year is $3.95 to $4.15 per bushel, down from a record $4.20 per bushel in 2007-2008.
The USDA will make its first survey-based forecasts for corn and sorghum yields and production in its August 12 Crop Production report.
The report also projects slight increases in
Production ranges widely between regions, however, with some areas seeing significantly less harvested acreage.
The full report is available online from USDA.