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.