US corn yields to 161.9 bushels per acre, from 153.9 last year

In Washington, the USDA released the September 11th World Agricultural Supply and Demand Estimate, and projected that US corn production will reach 13 billion bushels, based on average yields of 161.9 bushels per acre compared to 153.9 bushels per acre for last year.

Ending corn stocks were projected to reach 1.6 billion bushels, and prices for corn are expected in the $3.05 per bushel and $3.65 per bushel range compared to $4.20 for last year.

Last month, the USDA had revised projected 2009 corn crop figures to 12.8 billion bushels, or 159.5 bushels per acre, the the second highest yield on record.

Combined with existing stocks, will have the US has 14.7 billion bushels on hand, a record, of which 4.2 billion will be used in ethanol production, leaving 10.5 billion bushels for food, feed and other uses.

According to the RFA, the corn for ethanol will yield 11.76 billion gallons as well as 32 million metric tons of distillers grains. The US soybean crop is expected to reach 3.2 billion bushels, an all-time record and up 8 percent over 2008.

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