US feed grain supply estimates up in January

U.S. feed grain supplies for 2011–2012 are forecast at 358 million metric tons, up 400,000 metric tons from December 2011 estimates but down 22.5 million metric tons from the 2010–2011 harvest year, according to the U.S. Department of Agriculture.
The 2011 corn crop is estimated higher in January, reflecting higher acreage and yield estimates, but the forecast sorghum crop is reduced. Barley and oats production are unchanged. Feed grain beginning stocks are lowered slightly to 32.3 million metric tons, with a small revision to September 1, 2011 corn stocks. Total feed grain use for the current marketing year is projected higher at 334.2 million metric tons in January, supported by increased corn exports. Domestic use of the four feed grains is lowered 300,000 metric tons to 290.5 million metric tons, reflecting lower projected feed and residual use for sorghum. Feed grain exports for 2011–2012 are increased 1 million metric tons to 43.7 million metric tons, as higher expected corn exports offset lower sorghum exports. The small increase in feed grain supplies combines with an increase in use to lower expected ending stocks 300,000 metric tons to 23.8 million metric tons. In 2010–2011, ending stocks for the four feed grains totaled 32.3 million metric tons.
For information on grain prices and futures, see www.wattagnet.com/marketdata.html.