Corn consumption projected to break records in 2016

The report is the first of the year to forecast overall U.S. corn supply and demand for the next market year.
The report is the first of the year to forecast overall U.S. corn supply and demand for the next market year. | File photo

With the increased demand for feed, ethanol and export sectors, the National Corn Growers Association (NCGA) anticipates breaking records in 2016 according to Department of Agriculture reports that were released in early May.

“NCGA is pleased to see continuing demand increases in the ethanol, feed and export sectors in the report, but this report shows us that we need to work even harder,” National Corn Growers Association President Chip Bowling said. “We are working to increase the availability of ethanol, but we need help in growing demand. We need the EPA to comply with their statutory obligations under the Renewable Fuel Standard and we need Congress to open new trade markets by passing the Trans-Pacific Partnership and lifting the Cuban Trade Embargo. Each of these may be small steps in growing demand, but taken together, these actions will make a difference for farm families across this country.”

The report is the first of the year to forecast overall U.S. corn supply and demand for the next market year. It also projected feed and residual use to go up 300 bushels based on the expanding livestock industry.

“While we’re excited about the continued growth in demand, the forecast for record demand increases is more than offset by the estimated increases in production” Bowling said. “If we don’t work together to build demand, the next U.S. president may inherit a rural economic crisis that mirrors the struggles of the 1980s.”

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