NCGA Notes Farmers Still on Pace for Record Crop

The National Corn Growers Association notes USDA says U.S. corn growers are on track to produce a record corn crop despite slight decreases in the forecasts for overall production and national yield. The projected 13.8-billion bushel corn harvest is down 187-million bushels from the previous month's forecast - as the first survey-based yield forecast fell 2.1-bushels per acre to 154.4-bushels per acre. Still - if realized - U.S. corn farmers would far exceed the production record set in 2009 of 13.09-billion bushels. NCGA First Vice President Martin Barbre says corn farmers have worked diligently to grow the best crop possible despite planting delays and somewhat cool, wet conditions across much of the Corn Belt. He says NCGA is pleased to see that hard work is coming to fruition in many of the fields surveyed by the USDA in order to produce this forecast. Barbre notes farmers merge cutting-edge technology and ever-improving practices to create a dynamic industry capable of operating at a level unthinkable only a few decades ago.

Corn beginning stock projections were lowered 10-million bushels based upon a 15-million bushel increase in the previous crop year's exports. A five-million increase in imports partially offset the decline in beginning stocks. U.S. corn ending stocks for 2013-2014 are projected at 1.83-billion bushels - 122-million bushels lower than a month prior. The season-average farm price - now projected 10-cents higher at each end to $4.50 to $5.30 per bushel - remains down sharply from the record $6.70 to $7.10 the prior year.

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