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Projected Yield Shows Abundance of Corn for Food and Fuel

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Following the recent crop report released by the USDA projecting a record crop of 13.76 billion bushels of corn, Tom Buis CEO of Growth Energy released the following statement“Today’s data, released by the USDA shows this will be a record year for corn production. Coming on the heels of a devastating drought last year, American farmers are resilient and have ensured that this coming year’s supply of corn will exceed demand. There will be plenty of corn for all users. Corn futures are at a three year low and prices continue to fall on the news of the size of this year’s crop. With supplies growing and prices tumbling poultry and livestock producers can hardly claim that corn prices are hurting their bottom line.

 

Buis went on to say,“As the growing season wraps up and the corn is harvested, this record crop will remove any doubts that the production of biofuels has any meaningful effect whatsoever on the food supply. It is safe to say that American farmers will continue their tireless efforts to ensure that there is plenty of grain to fuel America and feed the world.”