National Corn Growers Association said U.S. corn growers will be able to meet the demands for food, feed, fuel and exports. The press release was in response to USDA’s reduced projection for 2010 corn production. The expected harvest of 12.7 billion bushels, the third largest in history, should provide a surplus or ending stocks of nearly 1 billion bushels.
USDA reduced the estimated 2010 national average corn yield from 162.5 to 155.8 bushels per acre and overall corn production from 13.2 billion to 12.7 billion bushels. Corn use for the 2010 marketing year is projected at 13.5 billion bushels. The association said beginning stocks of 1.7 billion bushels will help ensure all needs are met.
In October U.S. EPA ruled that gasoline may now contain as much as 15% ethanol, which is usually produced from corn, up from 10%. The E15 fuel has only been approved for use in model year 2007 and newer light-duty motor vehicles, including passenger cars, light-duty trucks and medium-duty passenger vehicles.
Pictured: This year’s corn harvest is expected to be 12.7 billion bushels.
Photo courtesy of National Corn Growers Association