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Sat Aug 4, 2012, 07:22 AM

Terrifying Corn Supply/Demand Situation Unfolding [View all]

The depressing yield situation Gulke is seeing in his fields, is common across the country. So common, that Informa Economics drastically chopped their corn yield estimate on Friday. Its corn yield projection is now 120.7 bu./acre. However, the firm's is expecting a final national average yield of 131 bu./acre.

...

On Friday, Aug. 10, USDA will release its first survey-based estimates for corn and soybeans. Currently USDA’s national corn yield average is currently 146 bu./acre. If they drop it down to the mid-120s like Informa, Gulke says we have a demand nightmare on our hands.

He says reducing feed needs, ethanol use and exports down to make Informa’s 120 estimate pencil out looks like an almost impossible job.

Gulke says on a recent CNBC segment, it was reported it takes 3 lbs. of corn to put a 1 lb. of gain on a hog, 5 lbs. of corn to put 1 lb. on a cow and about five times as much to make a gallon of ethanol. "There’s going to be a real push out there to do something about ethanol."

The general public, Gulke believes, is not going to want to see meat and food prices increase, at the expense of ethanol.

http://www.agweb.com/article/terrifying_corn_supplydemand_situation_unfolding/

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FarCenter Aug 2012 OP
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