Analysts Forecasting Record Corn Crop on Less Acres

corn_stalkThe potential of a historic corn crop in the United States – planted on fewer acres – demonstrates the country’s farmers can produce more than enough corn for both food and ethanol production, said Tom Buis, Chief Executive Officer of Growth Energy.

“There’s a mountain of corn out there – plenty of grain to meet demand for food and fuel,” Buis said. “Ethanol producers know that American farmers are the most efficient in the world, and this year’s corn crop stands to prove it yet again. The critics do not understand the productive capacity of America’s farmers, and their ability to produce more than enough to meet the food, feed and fuel needs of our nation. ”

Last week, the analytical firm Informa Economics raised its forecast for the 2009 corn crop to more than 13 billion bushels – an average yield of 162.6 bushels, grown on 5 million fewer acres than last year. If this forecast comes to be realized, it would be the largest in American history. An even bigger forecast was made by Allendale Inc., which is calling for a corn crop or 13.127 billion bushels. USDA’s next official estimate will be released on Friday and most are expecting it to be higher than last month.

“Ethanol opponents would have you believe that using corn for ethanol forces up prices for food. We have a surplus of corn, so where is the drop in food prices? Opponents to renewable ethanol would have you believe global food demand forces indirect land use changes when an acre of corn in the U.S. goes to ethanol instead of food. Yet we’re growing more corn out of fewer total acres,” Buis said.

corn, Ethanol, Growth Energy