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U.S. feed grain production for 2013–2014 is projected at 376 million metric tons, up from 286 million metric tons in 2012–2013, according to theU.S. Department of Agriculture's latest report.
For the four feed grains combined, U.S. planted area is up 1.6 million acres. The 2013–2014 corn crop is projected at a record 14.1 billion bushels, 3.4 billion bushels above the 2012–2013 season’s drought-reduced crop. Yields are forecast to average 158 bushels per acre, down 5.6 bushels from earlier expectations as mid-May plantings are likely to fall well short of the pace seen in recent years.
As of the May 6 Crop Progress report, 12 percent of thecorn crop had been planted in the 18 reporting states, compared with 69 percent in 2012 and 47 percent for the 2008–2012 average. Total corn use for 2013–2014 is projected at 12.9 billion bushels, 1.8 billion bushels over 2012–2013 but lower than 2009–2010 and 2010–2011, when total use exceeded 13 billion bushels.
Disappearance is projected higher on increased use for feed and residual; food, seed and industrial use; and exports, according to the USDA. U.S. corn exports are expected to rebound to 1.3 billion bushels but remain well below recent year highs due to record global coarse grain supplies and stiff competition from corn produced in Brazil, Argentina and Ukraine. U.S. corn prices are projected sharply lower, with the 2013–2014 midpoint of the price range down 32 percent at $4.70 per bushel.