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USDA: CORN USE PROJECTED SLIGHTLY HIGHER THAN 2020/21 RECORD, "CASH PRICES FIRM DURING HARVEST"
Dec. 21, 2021
Blog by Keith Good, University of Illinois
In its Feed Outlook report this month, the USDA's Economic Research Service (ERS) stated that, "Total corn use for 2021/22 is projected at 14,830 million bushels. This number is slightly larger than the 2020/21 record amount of 14,818 million bushels.
McConnell, Michael, Olga Liefert, and Angelica Williams, Feed Outlook: December 2021, FDS-21l, U.S. Department of Agriculture, Economic Research Service, December 13, 2021.
"Domestic corn use is projected to total 12,330 million bushels, while exports are projected to reach 2,500 million bushels for the year. The current corn export projection is below the 2020/21 record amount of 2,753 million bushels."
"Keeping the Bottom Line Black," by James Mintert, Michael Langemeier, and Nathanael Thompson. Purdue University- Center For Commercial Agriculture, December Outlook Update At The Indiana Farm Equipment & Technology Expo (December 15, 2021).
More narrowly, The Outlook noted that, "Domestic corn use for food, seed, and industrial (FSI) use is projected at 6,680 million bushels for 2021/22. The total FSI number includes a projected 5,250 million bushels to be used for fuel ethanol.
To view the complete report, click here.
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