Is there enough 2011 planted corn acreage

Most of the focus on 2011 US planted acreage centers on corn acreage. There are a number of reasons for that focus, said University of Illinois agricultural economist Darrel Good. “First, under the current policy regime, there is a mandate of 13 billion gallons of renewable biofuels production during the 2011-12 corn marketing year that begins on Sept. 1, 2011.

Almost all of that mandate is being met by corn-based ethanol production. The mandate implies that a minimum of 4.65 billion bushels of corn will be used for ethanol production during the 2011-12 marketing year,” he said. Use in other categories of consumption is influenced by available supply, demand and price. Consumption of corn for food and industrial purposes other than ethanol is currently running at about 1.4 billion bushels per year, Good said. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.