August WASDE Forecasts Record Corn Production

KGNC’s Shannon Gray visits with Texas Corn Producers Executive Director David Gibson on USDA’s latest World Agriculture Supply and Demands Estimates Report (WASDE).

The August projections show corn production forecast at a record-high of 15.3 billion bushels, up 278 million from last month. The season’s first survey-based corn yield forecast is at a record 181.8 bushels per acre, up 3.3 bushels from last month’s trend-based projection. Corn ending stocks rose more than 100 million bushels to 2.76 billion. The season-average corn price dropped 25 cents to $3.10 a bushel.

Domestic/International Demand and Global Ending stocks are also discussed.