Corn Futures



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Agriculture On Line

1 bushel of corn = 56 lbs
Corn yields can drop one bushel per acre, per day if planted after May 15, agronomists said.
1 bushel of corn = 2.7 gallons of Ethanol
To produce one pound of chicken requires 2 pounds of grain
To produce one pound of pork requires 4 pounds of grain
To produce one pound of  beef requires 8 pounds of grain
The Economist Dec/8/07:Fill up an SUV's fuel tank with ethanol and you have
used enough maize to feed a person for a year.
A yardstick to watch is the new crop soybean/corn ratio, which is trading very close to its historical norm of 2.43 to 1. Last year (07) corn rallied enough to drop the ratio below 2 to 1, spurring the massive increase in acres. Bryce Knorr, Farm Futures Senior Editor
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7/6/08 Argentina's House approved the president's sliding-scale grain and soybean export tax plan Saturday, sending the bill to the Senate for a vote. However, farm groups have warned that a Congressional endorsement of the tax may lead them to go back on strike.
7/3/08 India banned all export of corn to protect domestic supplies.
6/30/08 The USDA estimated 63.46 million acres of 87.33 million acres of corn were planted, down 7% YoY.
USDA quarterly grain stocks report 4.03 billion bushels of corn, up 14% YoY.
6/26/08 The state agricultural secretariat in Parana, Brazil said that recent frosts there have cut corn production by 1.3 million tonnes, or 20%.
The International Grains Council lowered its world production forecast for corn by 7 million tonnes to 756 million tonnes.
6/25/08 Nebraska Cattlemen and Texas Governor Perry are asking the Environmental Protection Agency to reduce the ethanol mandate to 4.5 billion gallons
6/24/08 Stats Canada estimated:
25.1 million acres of wheat were planted, up 16% YoY.
15.8 million acres of canola were planted, up 7% YoY.
2.97 million acres of corn were planted, down 13% YoY.
2.99 million acres of soybeans were planted, up 3% YoY.
6/19/08 A high-ranking member of the feed industry in China warned overnight that it could face an annual corn-deficit of 400 million bushels by 2010, requiring increased imports. Rapidly increased demand for meat in the Chinese diet is fueling the rise in demand for feed grains and protein, suggesting imports of U.S. corn. Some trade sources have suggested that China may need to begin importing U.S. corn as early as this next year... (Arlan Suderman Farm Futures)
6/10/08 The USDA's 2008-2009 U.S. ending stocks estimate for Corn was reduced from 763 to 673 million bushels.
The USDA's 2008-2009 world ending stocks estimate for Corn was increased from 99 to 103 million tons.
5/30/08 The International Grains Council released its latest estimate of world corn production at 763 million tonnes. This is up 1 million tonnes from their earlier estimate, but is down from last year's 777 million because of wet and cold weather in the US.
4/9/08 The USDA's estimate for 2007-2008 world ending stocks of Corn was reduced from 104 to 103 million tons.
The USDA's estimate for 2007-2008 U.S. ending stocks of
Corn was reduced from 1.438 to 1.283 billion bushels.
3/31/08 In 2008 the USDA expects farmers to plant 86.0 million acres of corn, down 8% YoY.
The USDA said, as of March 1st, U.S. stocks of Corn totaled 6.86 billion bushels, up 13% YoY.
2/21/08 The USDA said that its 2008 preliminary planting estimate for:
Corn is 90 million acres, down 4% from the previous year.
2/8/08 The USDA's estimate of 2007-2008 world ending stocks of Corn was raised from 101.3 to 101.9 million tons.
2/8/08 The USDA's estimate of 2007-2008 U.S. ending stocks of Corn unchanged at 1.438 billion bushels.
1/25/08 IGC estimates corn demand at 770 ml tons, and production at 765 ml tons in the 12-month through June.
Argentina lowered it’s corn production estimate to 21 ml tons from 22.
1/17/08 A climatologist at Iowa State University is warning that "La Nina conditions are now posing a significant risk to U.S. corn production in 2008."
12/15/07 The Economist Dec/8/07: the 30m tonnes of extra maize going to ethanol this year amounts to half the fall in the worlds's overall grain stocks.
12/11/07 The current US ethanol capacity is 7.3 billion gallons a year. If the projected new capacity comes on line during 2008, capacity will rise to 13.5 billion gallons a year.
12/6/07 Statistics Canada estimates 2007 corn production at 11.65 million tons, up 30% YoY.
11/27/07 China's National Grain and Oil Trade Center sees a 2007 grain and oilseed supply shortfall of 26 million tons.
11/9/07 The USDA's 2007-20008 U.S. ending stocks estimate of
corn was reduced from 1.997 to 1.897 billion bushels.
The USDA's 2007-2008 world ending stocks estimate of
Corn remained at 110.4 million tons.
10/12/07 The USDA's 2007-2008 U.S. ending stocks estimate of Corn increased from 1.675 to 1.997 billion bushels.
The USDA's 2007-2008 world ending stocks estimate of Corn increased from 105 to 110 million tons.
10/3/07 The U.S. Grain Council estimates China's corn crop at 139 million tons ( 5.5 billion bushels), down 6 million tons from last year.
9/29/07 The USDA said that, on September 1, 2007 Corn stocks totaled 1.30 billion bushels, down 34% YoY.
9/17/07 China plans to restrict fuel made from agricultural products and cut import tariffs to reduce food inflation. Corn demand is expected up 14.5% by 2010, while output is expected to rise 3.5%. China's overall inflation rate in August was a 10-year high of 6.5%. China's food-price inflation however was 18.2%, 34.6% for vegetable oils and 495 percent for meat.
8/26/07 Pro Farmer, estimates 2007 U.S. corn production at 13.109 billion bushels with a yield of 153.47 bushels per acre.
8/10/07 The USDA's 2007-2008 world ending stocks estimate for: Corn fell from 108.4 to 102.2 million tons.
8/10/07 The USDA's 2007-2008 U.S. ending stocks estimate for:Corn rose from 1.502 to 1.516 billion bushels.
8/8/07 The California Air Resources Board mandated that gasoline sold in the state include 10% ethanol by the end of 2009. California consumed 1 billion gallons of ethanol this year and the new rules will likely double that figure.
6/20/07 The USDA estimates  planted acres of Corn at 92.9 million acres, up 19% YoY-- the most since 1944.
The USDA estimates June 1, 2007, Corn stocks totaled 3.53 billion bushels, down 19% YoY
6/26/07 Stats Canada said Canada's farmers planted 3.5 million acres of corn, up 29% from a year ago.
6/11/07 The USDA estimates 2007-2008 U.S. ending stocks of Corn up from 947 to 997 million bushels.
The USDA estimates 2007-2008 world ending stocks of Corn rose to 92 million tons up from 90 million tons.
4/24/07 Canadian farmers intend to plant 3.5 million acres of corn this year, up 26% YoY.
4/10/07 The USDA's 2006-2007 world ending stocks estimate for Corn was increased from 88 to 92 million tons.
The USDA's 2006-2007 U.S. ending stocks estimate for Corn was increased from 752 to 877 million bushels.
3/30/07 The USDA's Prospective Plantings report expects 90.45 million acres of corn planted this spring, up from 78.3 million acres a year ago. (The biggest corn plantings since 1944) (est. 87.98)
The USDA said that on March 1, 07 there were 6.07 billion bushels of corn stocks, down 13% YoY.
3/6/07 At its Outlook Forum, the USDA said they expect 2007-2008 U.S. ending stocks of Corn to fall from 752 to 637 million bushels.
2/9/07 The USDA's world 2006-2007 ending stock estimate for Corn was raised from 86 to 88 million tons.
2/9/07 The USDA's U.S. 2006-2007 ending stock estimate for Corn was unchanged at 752 million bushels.
1/12/07 The USDA's 2006-2007 world ending stocks estimate for Corn was reduced from 93 to 86 million tons. (stocks/usage 11.9%)
1/12/07 The USDA's 2006-2007 U.S. ending stocks estimate for Corn was reduced from 935 to 752 million bushels. (stocks/usage 6%, lowest since 1975)
12/11/06 The USDA's 2006-2007 U.S. ending stocks estimate of Corn was unchanged at 935 million bushels.
The USDA's 2006-2007 world ending stocks estimate of Corn was increased from 90 to 93 million tons.
11/20/06 Will there be enough corn? "There is a collision course on the horizon, but when and how severe it is going to be, I don't know," said Doug Thompson, a corn and soybean grower near Kanawha, in north-central Iowa.
11/2/06 FC Stone estimates the U.S. corn crop at 10.808 billion bushels, and Informa Economics predicted the crop at 10.729 billion bushels. This compares with the USDA’s October estimate of 10.905 billion bushels.
10/12/06 The USDA's 2006-2007 U.S. ending stocks estimate for corn was reduced from 1.220 to .996 billion bushels.
10/12/06 The USDA's 2006-2007 world ending stocks estimate for corn was reduced from 92 to 90 million tons.
9/8/06 The USDA said that U.S. 2005-2006 exports of Corn finished the year up 20% YoY.
8/12/06 The USDA's U.S. 2006-2007 ending stocks estimate for Corn was increased from 1.077 to 1.232 billion bushels.
8/12/06 The USDA's world 2006-2007 ending stocks estimate forCorn was increased from 91 to 93 million tons.
6/30/06 The USDA estimated U.S. planted acres this spring  79.4 million acres of corn, down 3% from a year ago, but up 2% from the March estimate.
6/30/06 The USDA reported U.S. grains stocks as of June 1st 4.36 billion bushels of corn, up 1% from a year ago.
6/19/06 The Chairman of China’s Cereals and Oils Association says China’s growing industrial use of Corn will force the country to import 10 mmt. of Corn by 2010.
6/3/06 Ethanol dazzles Wall Street, White House -- Ethanol production in the United States is growing so quickly that for the first time, farmers expect to sell as much corn this year to ethanol plants as they do overseas.
"It's the most stunning development in agricultural markets today — I can't think of anything else quite like this," says Keith Collins, the U.S. Agriculture Department's chief economist.
The amount of corn used for ethanol, estimated at 2.15 billion bushels this year, would amount to about 20 percent of the nation's entire crop, according to department projections.
Even as ethanol devours corn and pushes prices higher, the president and Congress are calling for even greater ethanol use. Wall Street cannot seem to get enough of ethanol-related investments. Automakers are speeding ethanol-capable vehicles onto the road.
4/10/06 The USDA 2005-2006 U.S. ending stocks estimate forcorn was reduced from 2.351 to 2.301 billion bushels.
The USDA's 2005-2006 world ending stocks estimate for corn was reduced from 130 to 129 million tons.
3/31/06 The USDA's 2006-2007 planting estimate forCorn is 78.0 million acres, down 5% YoY -- less than expected.
As of March 1st, U.S. grain stocks of Corn totaled 6.99 billion bushels, up 3% YoY.
3/10/06 The USDA's 2005-2006 U.S. ending stocks estimate for corn was lowered from 2.401 to 2.351 billion bushels.
1/26/06 Can farms yield fuel and feed the world? Some experts scoff at the idea of corn shortages, but others say it is possible, at least to some degree. Wendy Wintersteen, dean of the College of Agriculture at Iowa State University, said that possibly as early as this summer, "we will have areas of the state we would call corn-deficient," because there will not be enough for livestock feed as well as ethanol plants.
1/12/06 The USDA's 2005-2006 U.S. ending stocks estimate for Corn was increased from 2.419 to 2.426 billion bushels.
12/9/05 The USDA's 2005-2006 world ending stocks estimate for Corn was increased from 114 to 119 million tons.
12/9/05 The USDA's 2005-2006 U.S. ending stocks estimate for Corn was increased from 2.319 to 2.419 billion bushels.
11/10/05 The USDA's 2005-2006 U.S. ending stocks estimate for
Corn increased from 2.220 to 2.319 billion bushels.
10/12/05 USDA's 2005-2006 U.S. ending stocks estimates for Corn was increased from 2.079 to 2.220 billion bushels.
10/12/05 Today’s USDA production estimates for Corn was increased from 10.639 to 10.857 billion bushels
09/12/05 The USDA's 2005-2006 U.S. crop estimate for
Corn was increased from 10.350 to 10.639 billion bushels.
09/12/05 The USDA's 2005-2006 U.S. ending stocks estimate for
Corn was increased from 1.900 to 2.079 billion bushels.
7/12/05 The USDA's 2005-2006 U.S. ending stocks estimate for
Corn was reduced from 2.54 to 2.24 billion bushels.
The USDA's 2005-2006 world ending stocks estimate for
Corn was reduced from 121 to 114 million tons.
06/10/05 The USDA's U.S. ending stocks estimate for
Corn remained at 2.540 billion bushels. The USDA's world ending stocks estimate for Corn was reduced from 122 to 121 million tons.
06/06/05 The Senate Energy and Natural Resources Committee approved its portion of energy legislation that would increase the use of biofuels such as biodiesel and ethanol.
05/12/05 The USDA's 2005-2006 world ending stocks estimate for Corn is 122 million tons, down from 129 million tons in 2004-2005.
05/12/05 The USDA's 2005-2006 U.S. ending stocks estimate for corn is 2.540 billion bushels, up from 2.214 billion bushels in 2004-2005.
04/27/05 The USDA report showed that 30% of the U.S. corn crop has  been planted, more than was expected.
04/26/05 If you’re worried about the recent European Union ban on imports of grain from the US you can now breathe a sigh of relief. Tests of Syngenta animal feed and grains imported into the European Union have shown the products to be free of a genetically modified (GMO) strain of maize blocked by the EU, the company said on Tuesday.
U.S. exporters send 3.5 million tonnes of corn gluten feed to Europe each year, a trade worth some 350 million euros ($449 million).
04/26/05 The Renewable Fuels Association said that the U.S. produced 245,000 barrels of ethanol per day in February, a new record high.
04/25/05 The USDA said  that  30% of the corn crop has been planted.
These days, however, ethanol-makers are getting creamed. Even as oil prices hover around $50 a barrel, ethanol has plunged by at least one-fourth since January. For the first time in memory, a gallon of ethanol at wholesale is going for a dollar less than a gallon of gas at the pump.
04/14/05 Informa Economics, a private analytical firm, is said to estimate U.S. cornproduction at 10.721 billion bushels. This compares to USDA's April productionestimate of 11.807 billion. Export sales from the U.S. Department of Agriculture for corn were 915,600 metric tons for 2004-05. This is above trade estimates of 650,000 to 850,000 metric tons.
04/12/05 Thirty-three U.S. governors are seeking to expand federal mandates for the use of ethanol as a fuel additive, the Wall Street Journal reported Tuesday. Also Chinese officials are visiting Brazil this week in search of knowledge on how to introduce ethanol as an additive into gasoline fuel.  
03/10/05 The USDA's 2004-2005 U.S. ending stocks estimate for
Corn was increased from 2.010 to 2.055 billion bushels.
The USDA's 2004-2005 world ending stocks estimate for
Corn was increased from 117 to 122 million tons.
02/17/05 Compared to one year ago, U.S. exports for Corn remained at +4%.
02/14/05 24 weeks into the 2004-05 marketing year, U.S. corn inspections are running 6.1% behind last year's pace.
02/09/05 The USDA's 2004-2005 U.S. ending stocks estimate for
Corn was increased from 1.96 to 2.01 billion bushels. And the USDA's 2004-2005 world ending stocks estimate for Corn was increased from 115 to 117.3 million tons.
01/12/05 The USDA's 2004-2005 U.S. ending stocks estimate for
Corn was increased 116 million bushels to 1.960 billion bushels.
The USDA's 2004-2005 world ending stocks estimate for
Corn was increased 3 million tons to 115 million tons.
12/10/04 The USDA's 2004-2005 U.S. ending stocks estimate for
Corn was increased 25 million bushels to 1.844 billion bushels.
The USDA's 2004-2005 world ending stocks estimate for
Corn was increased 3 million tons to 112 million tons. The Report Lacks Surprises
11/12/04 The USDA's U.S. 2004-2005 production estimate for
Corn was increased from 11.613 to 11.741 billion bushels,
and the  USDA's U.S. 2004-2005 ending stocks estimate for
Corn was increased by 128 million bushels to 1.819 billion bushels
10/11/04 The USDA's world 2004-2005 ending stocks estimates for Corn increased from 88 to 101 million tons.
10/11/04 The U.S. 2004-2005 production estimate for Corn was increased from 10.961 to a record high 11.613 billion bushels.
10/11/04 The USDA's U.S. 2004-2005 ending stocks estimates for Corn were increased 482 million bushels to 1.691 billion bushels.
10/07/04 Compared to one year ago, U.S. 2004-2005 exports for Corn improved from -13% to even with a year ago.
09/12/04 The USDA estimates of 2004-2005 world ending stocks for Corn were increased 2 million tons to 88 million tons.
09/10/04 The USDA estimates of 2004-2005 U.S. ending stocks for Corn were increased 77 million bushels to 1.209 billion bushels.
07/12/04 The USDA's 2004-2005 estimate of world ending stocks for
Corn were increased 7 million tons to 76 million tons.
07/12/04 The USDA's 2004-2005 U.S. production estimate for
Corn is 10.635 billion bushels, a new record high.
07/12/04 The USDA's 2004-2005 estimates of U.S. ending stocks for
Corn were increased 250 million bushels to 991 million bushels.
06/30/04 The USDA pegged 2004 corn acreage at 80.968 million acres, up 1.96 million acres from its March planting intentions figure of 79.0 million. This is a 3% increase from 2003. The USDA estimated harvested acres will total 73.4 million.
06/10/04 The USDA's 2004-2005 world ending stocks estimates for Corn were increased 2 million tons to 69 million tons. U.S. ending stocks estimates for Corn were unchanged at 741 million bushels.
04/08/04 The USDA pegged U.S. 2003/04 (old-crop) corn ending stocks at 856 million bushels, down from USDA's March forecast for 901 million
03/31/04 USDA's planting estimates for Corn are 79.0 million acres, up 0.3% from a year ago.
03/31/04 As of March 1st, the USDA reported Corn stocks at 5.27 billion bushels, up 3% from a year ago.
02/10/04 The USDA's 2003-2004 ending stocks estimate for
Corn was reduced by 80 million bushels to 901 million bushels.