Corn price estimates remain low as production stabilizes

The price for corn bushels for the 2015-2016 growing season remain low at an average price of $3.65 per bushel, according to estimates released by the Department of Agriculture on Wednesday.

Production data remained stable, with increases in the ethanol sector but decreases in exports.

“We produce an abundant crop in a sustainable manner and, rightfully, are proud of doing so,” National Corn Growers Association (NCGA) President Chip Bowling, a farmer from Maryland, said. “It is time that our regulators and representatives in Washington, as well as their constituents back home, hear the truth. Corn provides an affordable, clean way to fuel and feed our nation. At NCGA, we will continue to tirelessly work to both have this message heard and build the demand needed to sustain our rural economies.”

The national average for yield projects remains at a second-highest on record at 169.3 bushels per acre with the ending stocks estimate revised 25 million bushels higher based on demand estimates. The highlight of this year’s crop production is in ethanol production, which has seen a projected raise of 25 million bushels according to weekly data from the Energy Information Administration in November.

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