The latest forecast for corn production is up. The U.S.D.A.says corn production across the U.S. is estimated at 13-billion bushels — which is 193-million bushels higher than the August forecast due to forecasts of higher than expected yields in Iowa and the rest of the corn belt.
The report says the national average corn yield is projected at nearly 162 bushels an acre. The report says while the amount of production is expected to increase, projections for exports, feed and other uses will actually lead to a lower ending stock of corn overall.
The 2009-2010 marketing-year average farm price is for corn had dropped. It is projected from $3.05 a bushel to $3.65 a bushel. That compares to last month’s prediction of a price of $3.10 a bushel to $3.90 a bushel.