Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Agriculture

USDA trims 2019-20 US corn output estimate

Electricity | Energy | Electric Power | Emissions | Renewables

Global Energy Transition: What are the key drivers and hindrances?

Agriculture

Platts Agriculture Alert

Commodities | Agriculture | Biofuels | Sugar

Miami Sugar Conference, 6th Annual

Natural Gas

DTE Midstream to buy gathering assets in Haynesville Shale for $2.25 billion

USDA trims 2019-20 US corn output estimate

Highlights

USDA cuts 2019-20 US corn acreage estimate to 89.9 million acres

Raises US corn yield estimate to 168.4 bu/acre from 168.2 bu/acre

Cuts US corn 2019-20 ending stocks estimate to 1.929 billion bu

New Delhi — The US Department of Agriculture expects US corn production for the marketing year 2019-20 (September-August) at 13.779 billion bushels (350.01 million mt), marginally down from its earlier estimate of 13.799 billion bushels, it said in the October World Agricultural Supply and Demand Estimates report on Thursday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The production estimate was within market expectations at 13.44-13.83 billion bushels.

S&P Global Platts Analytics estimates corn production in the US to be at 13.677 billion bushels in 2019-20.

The USDA lowered its corn acreage estimate for the US to 89.9 million acres from 90 million acres forecast in September. The estimate for harvested acres under corn in the US was also lowered, to 81.8 million acres from 82 million acres.

Platts Analytics also estimates harvested acreage under corn in the US at 81.8 million acres. Market estimates for harvested acres under corn in the US are in the range of 80.8-82.02 million acres.

The department estimates yield for US corn to be at 168.4 bushels/acre, slightly up from 168.2 bu/acre estimated previously. The yield estimates are within market expectations of 166-168.7 bu/acre, and higher than the Platts Analytics' estimate of 167.2 bu/acre.

Corn production is forecast down 20 million bushels as a decline in harvested area will likely more than offset an increased yield forecast, the USDA report said.

USDA's export estimate for US corn was lowered to 1.9 billion bushels from 2.050 billion bushels.

"Exports are reduced 150 million bushels reflecting smaller supplies and US price competitiveness," the USDA said.

The USDA cut estimates for the ending stocks of corn for the country to 1.929 billion bushels from 2.19 billion bushels projected in September.

Platts Analytics expects ending stocks for US corn in 2019-20 to be at 1.997 billion bushels.

USDA's estimate for corn used for ethanol for 2019-20 was lowered by 50 million bushels from the September projection to 5.4 billion bushels.

BRAZIL CORN EXPORTS SEEN HIGHER

USDA's corn export estimate for Brazil for 2018-19 was raised to 39 million mt from the previous estimate of 38 million mt, while Argentina's export estimate was kept unchanged at 36 million mt.

According to the USDA, the 2018-19 local marketing year in Brazil and Argentina runs through March 2019-February 2020.

For the 2019-20 marketing year, USDA kept its production forecast for Brazil and Argentina unchanged from its September estimates, at 101 million mt and 50 million mt, respectively.

Export estimates for Brazil and Argentina during the 2019-20 marketing year also remained unchanged, at 34 million mt and 33.5 million mt, respectively.

The USDA kept global corn production estimates for 2019-20 largely unchanged at 1.104 billion mt from 1.105 billion mt projected in September.

-- Shikha Singh, shikha.singh1@spglobal.com

-- Edited by Shashwat Pradhan, newsdesk@spglobal.com

Daily Grains

Do you want to have access to transparent and relevant real-time news, market commentary, analysis and data on the grains market before competitors do? Click the link below and we will send you 10 issues of Daily Grains free to preview.

Free Trial