USDA’s outlook for 2021/22 U.S. corn is for larger supplies, increased feed and residual use, greater exports, and higher ending stocks. Projected beginning stocks for 2021/22 are 70 million bushels higher based on a lower use forecast for 2020/21, with reductions in corn used for ethanol and exports. Corn production for 2021/22 is forecast at 15.0 billion bushels, up 246 million from last month on increases to harvested area and yield. The national average yield is forecast at 176.3 bushels per acre, up 1.7 bushels, while harvested area for grain is forecast at 85.1 million acres, up 0.6 million. Total U.S. corn use for 2021/22 is up 150 million bushels to 14.8 billion. Feed and residual us...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.