LESS CORN FOR MEAT PRODUCTION
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UNITED STATES: USDA estimates that the 2006 corn crop will be three percent less than last year but there will be five percent more soybeans.
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As the 2006 harvest season winds down, U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) estimated the corn crop at 10.7 billion bushels – three percent lower than 2005. NASS estimated the soybean harvest at 3.20 billion bushels – five percent above the 2005 harvest.
The availability – and price – of corn and soybeans will have a major impact on the price of livestock because most meat-producing animals are fed corn-soybean rations. (Reason is that the price of fuel-BTU- will now control the price of feed which will control the price of meat which will raise the price of meats at the consumer level with out figuring in transportation costs.)
NASS’ latest corn production forecast at 10.7 billion bushels was down one percent from its October harvest estimate. Based on conditions as of November 1, yields are expected to average 151.2 bushels per acre – down 2.3 bushels from October but 3.3 bushels higher than last year. If realized, the yield would be the second largest on record, behind 2004.
Corn yield forecasts were lower than last month across much of the western and central Corn Belt and Atlantic Coast states as producers reported that actual harvest yields were not as good as expected earlier due to lower grain weight per ear. Stalk quality and lodging problems were also reported in some areas. Producers in the northern Great Plains, Delta States, and parts of the Southeast reported better than expected yields. Compared with last year, yields are higher in all Corn Belt states, except Iowa and Minnesota.
The 3.20 billion-bushel soybean harvest forecast was slightly higher than the October estimate. NASS noted that if its latest harvest estimate is realized, the 2006 soybean yield would be the largest U.S. soybean crop on record.
Based on November 1 conditions, yields are expected to average 43.0 bushels per acre – up 0.2 bushel from October and equal to last year's record high yield. Area for soybean harvest in the U.S. was forecast at 74.5 million acres – five percent larger than 2005.
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UNITED STATES: USDA estimates that the 2006 corn crop will be three percent less than last year but there will be five percent more soybeans.
--------------------------------------------------------------------------------
As the 2006 harvest season winds down, U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) estimated the corn crop at 10.7 billion bushels – three percent lower than 2005. NASS estimated the soybean harvest at 3.20 billion bushels – five percent above the 2005 harvest.
The availability – and price – of corn and soybeans will have a major impact on the price of livestock because most meat-producing animals are fed corn-soybean rations. (Reason is that the price of fuel-BTU- will now control the price of feed which will control the price of meat which will raise the price of meats at the consumer level with out figuring in transportation costs.)
NASS’ latest corn production forecast at 10.7 billion bushels was down one percent from its October harvest estimate. Based on conditions as of November 1, yields are expected to average 151.2 bushels per acre – down 2.3 bushels from October but 3.3 bushels higher than last year. If realized, the yield would be the second largest on record, behind 2004.
Corn yield forecasts were lower than last month across much of the western and central Corn Belt and Atlantic Coast states as producers reported that actual harvest yields were not as good as expected earlier due to lower grain weight per ear. Stalk quality and lodging problems were also reported in some areas. Producers in the northern Great Plains, Delta States, and parts of the Southeast reported better than expected yields. Compared with last year, yields are higher in all Corn Belt states, except Iowa and Minnesota.
The 3.20 billion-bushel soybean harvest forecast was slightly higher than the October estimate. NASS noted that if its latest harvest estimate is realized, the 2006 soybean yield would be the largest U.S. soybean crop on record.
Based on November 1 conditions, yields are expected to average 43.0 bushels per acre – up 0.2 bushel from October and equal to last year's record high yield. Area for soybean harvest in the U.S. was forecast at 74.5 million acres – five percent larger than 2005.