Recent USDA Corn Numbers Surprise the Markets

The March World Agricultural Supply Demand and Estimates report was a non-event when it came to the commodities market recently, there was some surprise and a number of corn acres that came out of the USDA prospective plantings report, according to Grain Analyst and Crossroads Co-Op Regional Manager Brian Irey.

“I think the trade was leaning towards the idea of nearly Well, I know they were because that's where the average trade guesses were. We're at 91.8 million acres. And I think there were people thinking that those acres could have been as high as 93 million acres and we came in at slightly over 90 million acres. So when you throw those numbers into the formulas that were used last year by the USDA to calculate yield, production, etc. It takes about 285 million bushels off of total production for 2425. If you use the average trade guests, if you use the Outlook Forum numbers, it takes a more moderate 100 and 50 million bushels of production out of the equation.”

Irey says that the corn at carry out will continue to be an issue.

"We still have a huge burden some carry out here for 23-24 that we have to deal with the chances of that growing at some point here before the marketing year ends are very very realistic.

Crossroads Coop Regional Manager, Bryan Irey.