Market Outlook

See the latest Corn and Other Feedgrains Outlook report.

Corn Ending Stocks Are Raised for 2021/22 and
2022/23, But the Feed Grain Market Outlook
Remains Tight

The outlook for the 2022/23 U.S. corn market is for relatively higher ending stocks—primarily due to higher stocks coming into the year, due to lower total use estimated for 2021/22. Projected U.S. corn production for 2022/23 is unchanged at 14,460 million bushels. Lower estimated corn exports for 2021/22 are partially offset by higher food, seed, and industrial use of corn for both 2021/22 and 2022/23. The season-average corn price for 2021/22 is estimated at $5.95 per bushel and is projected at $6.75 per bushel for 2022/23.

Increased coarse grain beginning stocks, higher projected output, and virtually unchanged projected coarse grain use (higher corn, but lower barley consumption) leave world ending stocks higher, especially for corn in the United States and Ukraine. Global corn trade in 2022/23 is projected essentially unchanged this month.