The May World Agricultural Supply and Demand Estimates report (WASDE) showed the first forecast for the 2024-25 crop marketing year. The corn crop is projected at 14.9 billion bushels, down 3% from last year’s record as a decline in area is partially offset by an increase in yield.

The April Feed Outlook report shows the 2023-24 U.S. corn ending stocks are reduced on higher domestic use. U.S. corn ending stocks are lower this month after upward adjustments for corn ethanol and feed and residual use.

The April World Agricultural Supply and Demand Estimates report (WASDE) showed the 2023-24 U.S. corn outlook having a greater amount of corn used for ethanol, and feed and residual use creating smaller ending stocks.

There was a 10% increase in February feedlot placements from 2023 to 1.89 million head, representing the most February placements since at least 1996.

The March Feed Outlook report shows the global 2023-24 corn stocks are reduced. Foreign corn production is lower this month, as it was last month, with the largest reductions for South Africa, Ukraine and Mexico.

The March World Agricultural Supply and Demand Estimates report (WASDE) showed the 2023-24 U.S. corn outlook remains relatively unchanged compared to last month’s with only a 5-cent decrease in the season-average price to $4.75 per bushel.

The February World Agricultural Supply and Demand Estimates report (WASDE) showed the 2023-24 U.S. corn outlook is for lower food, seed and industrial use and larger ending stocks.