US Feed Outlook – July 2010
US feed grain production in 2010 is expected to be down from last month reflecting lower planted acreage as forecast in the June 30 Acreage report, according to the USDA Economic Research Service.
Feed grain production is projected up from 2009 as planted and harvested area are up from last year for corn, more than offsetting year-to-year reductions for sorghum, barley and oats. Adjustments are made in 2009/10 use this month to reflect 1 June stocks. The resulting changes lower 2009/10 ending stocks and 2010/11 supplies. Forecast 2010/11 prices for all four feed grains are raised this month, as feed grain ending stocks are projected lower. US corn exports for 2010/11 are decreased based on stronger US prices. Foreign coarse grain ending stocks for 2010/11 are down slightly more than US stocks, mostly due to reduced barley production prospects. During 2010/11, world coarse grain stocks are projected to decline five per cent.
