River Valley Cooperative

September 8, 2010

Your Success - Our Future

USDA March Supply/Demand Report

03.12.2010

USDA Crop Production and Supply/Demand Report was released on March 10th. Ahead of this report, USDA re-surveyed grain producers in an attempt to better define the harvested acres and final yield for the 2009 crops versus the numbers reported in the January report. In today's numbers USDA made no change to harvested acres for corn or soybeans. The final corn yield was dropped from 165.2 to 164.9 bushels per acre which resulted in the final corn production to be 13.131 billion bushels or 20 million bushels less than the January estimate. On the demand side, corn exports were lowered 100 million bushels while feed and ethanol usage were unchanged. The net result to the carry out was an increase of 80 million bushels and the current carry out number sits at 1.799 billion bushels for the 2009/10 crop year.

For beans the final production number was lowered 2 million bushels while imports of beans into the US were up 7 million bushels. On the demand side the crush number was raised by 10 million bushels and exports were up 20 million bushels. The soybean carry out was down 20 million bushels from last month and is now at 190 million bushels. The final bean yield was unchanged at 44 bushels per acre.