This month’s U.S. corn outlook calls for reduced production, food, seed, and industrial use, feed and residual use, exports, and ending stocks.
Corn production is estimated at 13.730 billion bushels, down 200 million.
Exports were reduced 150 million bushels to 1.925 billion, reflecting the slow pace of shipments through December, and the lowest level of outstanding sales as of early January since the 2019/20 marketing year.
The season-average corn price received by producers is unchanged at $6.70 per bushel.
