美国的大小. 玉米作物将在接下来的几个月内影响市场.

达雷尔·良好的作品, University of Illinois

美国的大小. 玉米作物将在接下来的几个月中成为该市场中最重要的价格因素. 市场预计产量足以满足消费需求，无需限价, 但预计营销年度期末库存增幅不会像一个月前预计的那么大. 美国农业部9月产量预测. 12 将提供营销年度消费的最新预测, ending stocks and average farm price.

At the margin, the size of the inventory of old crop corn on Sept. 1 will also influence the expected balance of supply and consumption during the current marketing year. Consumption of corn during the final quarter of the 2012-13 marketing year may have exceeded the USDA’s projection in the August WASDE report. If so, stocks of old crop corn on Sept. 1 may have been smaller than currently projected. The consumption of corn for ethanol and by-product production for the year just ended was projected at 4.65 billion bushels. The USDA estimates that 3.448 billion bushels were used for that purpose during the first three quarters of the marketing year. That is 9.7 percent less than consumption during the same period a year earlier and is in line with the 9.3 percent reduction in ethanol production reported by the U.S. Energy Information Administration.