July 14, 2021: Dairy Week In Review

The latest USDA World Agricultural Supply and Demand Estimates report kept projected 2021-22 corn yields at 179.5 bushels per acre, while the season-average corn price was lowered by 10  cents to $5.60 per bushel. The expected number of acres harvested was increased by 1 million acres, with total production expected to be about 15.165 billion bushels. Beginning stocks fell by 25  million to 1.082 billion from last month, while ending stocks were raised by 75 million bushels to 1.432 billion bushels, with higher forecasted imports expected to offset increased feed and export use. Soybean production is projected at 4.4 billion bushels, with the total harvested area up 4.4 million acres from a year ago to 86.7 million acres. Ending stock estimates were kept unchanged  from last month, with lower imports, crush and exports expected to offset each other. The season average price was lowered by 20 cents to $11.05 per bushel. Read More