Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
    
   
   
   
   
   
   
   
   

Agricultural News


Corn Prices Remain Low on Relatively Static Demand Estimates

Wed, 09 Dec 2015 16:07:21 CST

Corn Prices Remain Low on Relatively Static Demand Estimates
With corn production estimates stable at 13.6 billion bushels in the 2015/16 season, farmers can still expect an average price of only $3.65 per bushel according U.S. Department of Agriculture reports released today. While all production data remained stable, demand estimates were revised to reflect newer information showing increases in the ethanol sector and decreased exports.


"We produce an abundant crop in a sustainable manner and, rightfully, are proud of doing so," said National Corn Growers Association President Chip Bowling, a farmer from Maryland. "It is time that our regulators and representatives in Washington, as well as their constituents back home, hear the truth. Corn provides an affordable, clean way to fuel and feed our nation. At NCGA, we will continue to tirelessly work to both have this message heard and build the demand needed to sustain our rural economies."


Yield projections continue to show a national average of 169.3 bushels per acre, which, if achieved, would be the second highest on record. With all production estimates unchanged since the November report, the ending stocks estimate was revised 25 million bushels higher due to revised demand estimates.


Weekly data from the Energy Information Administration showed stronger-than-expected ethanol production in November. USDA report raised projected ethanol demand by 25 million bushels on this data. Should the forecasts for 2015 and 2016 gasoline consumption in the December Short-term Energy Outlook hold true, it is possible ethanol demand figures could rise in the future despite EPA reductions to the Renewable Volume Obligations under the RFS made at the close of last month.


Increases in ethanol demand estimates were more than offset as export demand was revised down this month by 50 million bushels. This revision reflects both an increase in projected corn exports from Brazil and Canada as well as sluggish sales and shipments of U.S. corn.


Despite overall lower estimated demand, the 2015/16 season-average corn price received by farmers is projected to remain in the $3.35 to $3.95 per bushel range.


For the full report, click here.


   


 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Feeder Steers Sold 1.00-3.00 Lower, Feeder Heifers Sold Mostly 2.00-4.00 Lower at OKC West  Wed, 20 Nov 2019 20:52:18 CST
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Wednesday, November 20, 2019  Wed, 20 Nov 2019 19:08:35 CST
  • Wilbur-Ellis Acquires Nachurs Alpine Solutions®, Pioneer in Precision Agriculture, Leading Specialty Chemicals Manufacturer  Wed, 20 Nov 2019 19:08:03 CST
  • Wilbur-Ellis Acquires Nachurs Alpine Solutions®, Pioneer in Precision Agriculture, Leading Specialty Chemicals Manufacturer  Wed, 20 Nov 2019 19:07:30 CST
  • Wilbur-Ellis Acquires Nachurs Alpine Solutions®, Pioneer in Precision Agriculture, Leading Specialty Chemicals Manufacturer  Wed, 20 Nov 2019 19:06:33 CST
  • Wednesday Preopening Market Update with Dave Lanning  Wed, 20 Nov 2019 19:05:29 CST
  • Steer and Heifers Traded Unevenly Steady at OKC West - El Reno on Tuesday  Wed, 20 Nov 2019 19:04:41 CST
  • Bill Northey, USDA Under Secretary for Farm Production and Conservation Talks Rural Broadband, Conservation and More  Wed, 20 Nov 2019 15:17:29 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.