American farmers cannot meet the demand for corn according to the U.S. Agriculture Department. Exporters, livestock feeders, and ethanol makers are going through the U.S. corn stockpile faster than farmers can grow the crops. Despite record crops in two of the past three years and another record crop within reach this year, the U.S. Agriculture Department estimates the corn carryover will shrink to the lowest level since 2006/07. In a monthly look at crop supply and usage, USDA estimated 1.478 billion bushels of corn will be in U.S. bins on August 31, when this marketing year ends, and 1.373 billion bushels will be on hand at the end of 2010/11. In a monthly look at crop supply and usage, USDA estimated 1.478 billion bushels of corn will be in U.S. bins on August 31, when this marketing year ends, and 1.373 billion bushels will be on hand at the end of 2010/11. The report was anticlimactic after USDA last week shocked markets with data that showed corn plantings were smaller than expected this year and corn consumption through June 1 was far larger than expected. That data had spurred U.S. corn futures up 16 percent to a two-month high but prices are still far below 2010’s peak above $4.25 a bushel seen in early January. Our growing demand for corn cannot be sustainable with all of these competing interests seeking it. Ethanol, once the perceived savior for our mobile energy demands, cannot be counted to fill our vehicle fueling demands. The need to feed the world and us takes precedence over filling our fuel tanks. American farmers to date have been highly successful in maintaining our sustenance, but the rising demands these competing interests are making on them, is taxing their ability to satisfy everyone.
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