USDA projects record corn yields
The U.S. Department of Agriculture is projecting U.S. corn production at a record 13.2 billion bushels.
This is up from 12.9 billion bushels projected in USDA's December forecast and 1 percent above the previous record of 13.0 billion bushels set in 2007.
Corn exports are projected at 2.1 billion bushels, unchanged from last month and up from the estimated 1.9 billion bushels exported in 2008/2009. According to USDA's World Agricultural Supply and Demand Estimates released Tuesday.
The U.S. corn yield is estimated at a record 165.2 bushels per acre in 2009. This is up 2.3 bushels from the December forecast and 4.9 bushels above the previous record of 160.3 bushels per acre set in 2004.
Rebecca Fecitt, U.S. Grains Council director of biotechnology programs, said the continued utilization of scientifically proven biotechnology applications provided by life science companies will help to increase corn yields, solidifying the need to continue developing markets for U.S. coarse grains.
"We hope to see this upward trend in yields for U.S. corn continue," she said. "As science becomes even more sophisticated, it will help increase and maintain our yields. This will be instrumental in feeding the world's forecasted 9.1 billion people by 2050. The growing population, especially in developing countries, will demand more meat, milk and eggs as incomes continue to increase. We have to maintain our biotechnology education efforts in order to ensure that grain derived from biotechnology is accepted around the world."
The USDA projects sorghum production at 383 million bushels, which is 19 million bushels higher than the December report. Exports are unchanged from last month at 140 million bushels.