Feed grain supply prospects raised for 2011/12

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U.S. feed grain supplies for 2011/12 are projected higher for July, reflecting higher beginning stocks and production for corn. U.S. feed grain production for 2011/12 is projected at 382.6 million tons, up 9.6 million tons from a month ago and down 2 million tons from the 2010/11 estimate. The June 30 Acreage report showed planted acreage increased relative to intentions for corn and decreased for the other feedgrains. Corn beginning stocks are raised 150 million bushels reflecting changes in 2010/11 use. Corn production for 2011/12 is projected 270 million bushels higher based on harvested and planted area reported in the Acreage report.

The first survey-based production forecast for barley in the July 12 Crop Production report lowers output 2 million bushels from the June projection as lower harvested acreage more than offsets an increase in yield. Barley beginning stocks are reduced 3 million bushels due to increased 2010/11 use revealed by the June 1 stocks estimate. The first survey-based production forecast for oats is 15 million bushels lower than the June projection, reflecting a decline in projected harvested acres and expected lower yield. Oat imports are projected 5 million bushels lower than last month’s projection but 7 million bushels above the 2010/11 estimate. USDA will make its first survey-based forecasts for corn and sorghum production in the August 11 Crop Production report.

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