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Implications for Ethanol and Other Corn Users of the Shrinking Corn Crop

Implications for Ethanol and Other Corn Users of the Shrinking Corn Crop

Full Title:  Implications for Ethanol and Other Corn Users of the Shrinking Corn Crop
Author(s): Dr. Robert Wisner
Publisher(s):  Agricultural Marketing Resource Center
Publication Date: August 1, 2012
Full Text: Download Resource
Description (excerpt):

USDA’s July 11 World Agricultural Supply and Demand Report (WASDE) verified what virtually all private crop forecasters anticipated, namely that prospective U.S. corn supplies are shrinking. USDA cut its U.S. corn yield projection 20 bushels per acre from last month, to 146 bushels per acre. It should be noted that this yield was not a field-based forecast, but is a judgment of USDA economists of what the potential corn crop may have been as of July 11, assuming weather would be normal for the rest of the growing season. The decline in the potential size of the corn crop reflects severe drought that has affected crops across much of the mid-section of the U.S. It is almost certain that the corn crop has been reduced further since the USDA economists made their projection. The next official indication of the corn crop’s size will be on August 12 when NASS, USDA’s August field-based crop forecast (the first actual farm-field based forecast of the season) is released.

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