USDA March Crop Report

By Jason Sagebiel, FCStone | April 01, 2002
The USDA released its April 2002 crop production report. The report left corn acreage unchanged in comparison with March. Planted acres are still pegged at 75.8 million acres with production estimates of 9.507 billion bushels. However, the USDA did decrease corn's livestock feed usage by 25 million bushels. As a result, U.S. corn demand decreased by the same increment and increased U.S. corn ending stocks to 1.621 billion bushels. April began the busy season for Midwest farmers to start planting corn. The USDA left U.S. corn exports unchanged at 1.925 billion bushels just slightly lower than last years final figure of 1.935 billion bushels. Data released by the USDA pegged the national corn plantings at 4% planted as of April 14, 2002. This was in direct line with last year's pace and just 1% below the five-year average. World corn production was increased from the March figure of 587.29 million metric tons (mmt) to 589.45 mmt. The USDA increased Argentina corn production from 12.0 mmt to 12.8 mmt, while leaving China's corn production unchanged. However, the USDA did increase China's corn export from 3.0 mmt to 4.0 mmt.