Corn growers celebrate record harvest
Jan 17, 2008 9:34 AM
Corn production in the United States hit a record high in 2007, at a projected 13.074 billion bushels, the U.S. Department of Agriculture stated in its annual crop production summary released Jan. 11.
Average yield was second highest on record, at 151.1 bushels per acre. While these figures were both decreased from November estimates, they are still significantly higher than 2006, the National Corn Growers Association (NCGA) noted.
“2007 was a terrific year for corn production,” said Ron Litterer, NCGA president and a grower from Greene, Iowa. “We planted more acres, showing we can meet all market demand. We’re excited about 2008, but we know we have many challenges ahead of us.”
The USDA reported that, of 93.6 million acres planted, 86.5 million were harvested. In its World Agricultural Supply and Demand Estimate, the USDA reported a projected total supply (including carry-in, production and import) of 14.393 billion bushels. Of this, 5.95 billion bushels are projected for feed and residual, 3.2 billion bushels for ethanol and co-products and 1.355 billion for other domestic food, seed and industrial use.
Further, 2.45 billion bushels are projected for export and a carryover, or surplus, of 1.438 billion bushels is expected.
The season-average farm price for corn is projected at $3.70 to $4.30 per bushel.
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