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Corn production slashed, sorghum rises in latest USDA Feed Outlook

Lower corn yields offset by increased sorghum harvest as corn prices climb while global stocks shift.

Sorghum In Field
Pixabay

The U.S. Department of Agriculture's latest Feed Outlook report, released on January 14, 2025, reveals significant changes in the domestic coarse grains market for the 2024/25 marketing year. Key findings include:

  1. U.S. corn production estimate lowered by 276 million bushels to 14,867 million, due to a 2% decrease in yield to 179.3 bushels per acre.

  2. Corn ending stocks forecast reduced by nearly 200 million bushels to 1.5 billion, pushing the season-average price up $0.15 to $4.25 per bushel.

  3. Sorghum production raised to 343.9 million bushels, up 8.2% from 2023/24, driven by increased harvested area and yields.

  4. U.S. corn export forecast lowered by 25 million bushels to 2.5 billion, reflecting reduced supplies.

  5. Domestic corn use for ethanol production up 2.3% in September-November 2024 compared to the same period in 2023.

The report also notes changes in the global coarse grains market:

  • Increased foreign corn production, particularly in China, partially offsets the U.S. production cut.
  • Brazil drives higher foreign corn consumption and lower trade.
  • Argentina's export prospects improve, partly offsetting Brazil's reduced exports.
  • China's expected corn imports are lowered.

These shifts in production and trade patterns are expected to have significant implications for global grain markets and prices in the coming months. 

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