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Dr. William I. Tierney, Jr.   E-mail: wtierney@agecon.ksu.edu
Copyright 1998. All rights reserved by author.
Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial and no warranty is given or implied by the author or any other party. Each farmer must consider whether such marketing strategies are appropriate for his or her situation. This web page does not represent the views of Kansas State University.

 

US Corn Quarterly Supply and Demand Balance Table (Mln Bu)

Current: October 12, 1998

This table shows the U.S. quarterly corn supply and demand balance (million bushels) from 1975/76 to 1998/99. This table is displayed in three parts for easier viewing and printing: Part 1 (1975/76-79/80), Part 2 (1980/81-89/90) and Part 3 (1990/91-98/99).

  Part 1 (1975/76-79/80)

QUARTER   75/76 76/77 77/78 78/79 79/80
  Production 5,841 6,289 6,505 7,268 7,928
  Stocks 558 633 1,136 1,436 1,710
  Imports 2 3 3 1 1
  TOTAL SUPPLY 6,401 6,925 7,643 8,705 9,639
SEP-NOV Seed 0 0 0 0 0
  Food, Alcohol & Industrial 124 130 139 147 152
  Feed & Residual 860 919 1,019 1,161 1,271
  DOMESTIC USE 984 1,050 1,158 1,308 1,422
  EXPORTS 442 488 399 469 622
  TOTAL USAGE 1,426 1,538 1,557 1,777 2,044
  DECEMBER 1 STOCKS 4,975 5,387 6,087 6,928 7,594
  Free Stocks 1 4,922 5,275 5,495 5,849 6,787
  Price ($/Bu) $2.57 $2.32 $1.72 $1.99 $2.40
DEC-FEB Seed 0 0 0 0 0
  Food, Alcohol & Industrial 114 118 129 135 140
  Feed & Residual 1,093 1,031 1,068 1,229 1,299
  DOMESTIC USE 1,207 1,149 1,196 1,364 1,439
  EXPORTS 394 390 409 413 598
  TOTAL USAGE 1,601 1,539 1,605 1,777 2,037
  MARCH 1 STOCKS 3,374 3,848 4,482 5,151 5,557
  Free Stocks 1 3,253 3,620 3,536 3,909 4,443
  Price ($/Bu) $2.43 $2.31 $2.00 $2.13 $2.41
MAR-MAY Seed 16 16 16 16 16
  Food, Alcohol & Industrial 130 132 142 158 160
  Feed & Residual 1,052 1,053 938 1,135 1,149
  DOMESTIC USE 1,198 1,201 1,096 1,309 1,325
  EXPORTS 307 277 525 555 588
  TOTAL USAGE 1,505 1,478 1,621 1,864 1,913
  JUNE 1 STOCKS 1,869 2,370 2,861 3,287 3,644
  Free Stocks 1 1,791 2,173 2,019 2,121 2,324
  Price ($/Bu) $2.52 $2.30 $2.23 $2.28 $2.39
JUN-AUG Seed 4 4 4 4 4
  Food, Alcohol & Industrial 133 142 152 149 169
  Feed & Residual 578 598 706 749 843
  DOMESTIC USE 715 744 862 902 1,016
  EXPORTS 521 490 563 676 594
  TOTAL USAGE 1,236 1,234 1,425 1,578 1,610
  SEPTEMBER 1 STOCKS 633 1,136 1,436 1,710 2,034
  Free Stocks 1 601 992 740 866 988
  Price ($/Bu) $2.73 $1.88 $2.15 $2.56 $2.71

1:  Free Stocks = All stocks - CCC - Rsrv - Reg Loan - Spcl Prod Strge Loan
2:  National Average Price Received by Farmers
Exports:  ERS/USDA
Current on 10/12/98

Part 2 (1980/81-89/90)
Back to Part 1 (1975/76-79/80)      To Part 3 (1990/91-98/99)

QUARTER   80/81 81/82 82/83 83/84 84/85 85/86 86/87 87/88 88/89 89/90
  Production 6,639 8,119 8,235 4,174 7,672 8,876 8,226 7,131 4,929 7,526
  Stocks 2,034 1,392 2,537 3,523 1,006 1,648 4,040 4,882 4,259 1,930
  Imports 1 1 1 2 2 10 2 3 3 2
  TOTAL SUPPLY 8,675 9,512 10,772 7,699 8,680 10,534 12,268 12,016 9,191 9,458
SEP-NOV Seed 0 0 0 0 0 0 0 0 0 0
  Food, Alcohol & Industrial 156 173 207 227 244 276 288 295 305 296
  Feed & Residual 1,238 1,218 1,216 1,327 1,303 1,228 1,356 1,555 1,344 1,501
  DOMESTIC USE 1,394 1,391 1,423 1,554 1,547 1,504 1,644 1,850 1,649 1,797
  EXPORTS 685 520 443 493 502 415 318 395 470 579
  TOTAL USAGE 2,079 1,911 1,866 2,047 2,049 1,919 1,962 2,245 2,119 2,376
  DECEMBER 1 STOCKS 6,596 7,601 8,906 5,652 6,631 8,615 10,306 9,771 7,072 7,082
  Free Stocks 1 5,603 6,725 6,611 2,910 5,716 6,298 5,354 3,752 4,635 5,493
  Price ($/Bu) $3.03 $2.45 $2.09 $3.21 $2.70 $2.20 $1.44 $1.55 $2.56 $2.25
DEC-FEB Seed 0 0 0 0 0 0 0 0 0 0
  Food, Alcohol & Industrial 141 164 194 212 236 263 277 285 295 306
  Feed & Residual 1,148 1,201 1,304 1,070 1,192 1,305 1,469 1,445 1,073 1,285
  DOMESTIC USE 1,289 1,365 1,498 1,282 1,428 1,568 1,746 1,730 1,368 1,591
  EXPORTS 645 470 509 505 580 460 312 405 500 679
  TOTAL USAGE 1,934 1,835 2,007 1,787 2,008 2,028 2,058 2,135 1,868 2,270
  MARCH 1 STOCKS 4,662 5,766 6,899 3,865 4,623 6,587 8,248 7,636 5,204 4,812
  Free Stocks 1 3,230 3,560 3,449 1,383 3,014 2,549 1,257 1,423 2,681 3,074
  Price ($/Bu) $3.20 $2.46 $2.39 $3.14 $2.61 $2.31 $1.46 $1.77 $2.57 $2.30
MAR-MAY Seed 16 16 12 17 17 17 17 16 17 17
  Food, Alcohol & Industrial 166 186 216 236 277 291 318 319 333 366
  Feed & Residual 1,092 1,089 1,271 954 1,018 1,088 1,084 952 845 982
  DOMESTIC USE 1,274 1,291 1,499 1,207 1,312 1,396 1,419 1,287 1,195 1,365
  EXPORTS 615 595 476 513 475 201 497 510 590 604
  TOTAL USAGE 1,889 1,886 1,975 1,720 1,787 1,597 1,916 1,797 1,785 1,969
  JUNE 1 STOCKS 2,774 3,880 4,924 2,145 2,836 4,990 6,332 5,839 3,419 2,843
  Free Stocks 1 1,915 1,691 1,486 1,259 1,396 842 516 1,024 1,244 1,707
  Price ($/Bu) $3.24 $2.54 $2.90 $3.29 $2.68 $2.32 $1.55 $1.89 $2.58 $2.50
JUN-AUG Seed 4 3 3 2 4 3 0 1 2 2
  Food, Alcohol & Industrial 176 191 223 236 288 303 324 327 342 369
  Feed & Residual 755 737 782 526 603 493 761 846 679 621
  DOMESTIC USE 935 932 1,008 764 895 799 1,085 1,174 1,023 992
  EXPORTS 446 412 393 375 293 151 365 406 466 506
  TOTAL USAGE 1,381 1,344 1,401 1,139 1,188 950 1,450 1,580 1,489 1,498
  SEPTEMBER 1 STOCKS 1,392 2,537 3,523 1,006 1,648 4,040 4,882 4,259 1,930 1,345
  Free Stocks 1 800 539 361 313 377 193 -162 1,369 507 613
  Price ($/Bu) $3.06 $2.46 $3.17 $3.26 $2.56 $2.02 $1.59 $2.59 $2.42 $2.59

1:  Free Stocks = All stocks - CCC - Rsrv - Reg Loan - Spcl Prod Strge Loan
2:  National Average Price Received by Farmers
Exports:  ERS/USDA
Current on 10/12/98

Part 3 (1990/91-98/99)
Back to Part 1 (1975/76-79/80)    Back to Part 2 (1980/81-89/90)

QUARTER   90/91 91/92 92/93 93/94 94/95 95/96 96/97 97/98 98/99
  Production 7,934 7,476 9,482 6,336 10,103 7,374 9,293 9,366 9,743
  Stocks 1,345 1,521 1,100 2,113 850 1,558 426 883 1,308
  Imports 3 20 7 21 10 16 13 10 10
  TOTAL SUPPLY 9,282 9,017 10,589 8,470 10,963 8,948 9,732 10,259 11,061
SEP-NOV Seed 0 0 0 0 0 0 0 0 0
  Food, Alcohol & Industrial 322 349 360 378 409 413 383 429 445
  Feed & Residual 1,640 1,705 1,835 1,705 2,016 1,756 1,951 2,195 2,171
  DOMESTIC USE 1,962 2,054 2,195 2,098 2,434 2,182 2,342 2,624 2,616
  EXPORTS 380 422 488 435 449 660 487 380 350
  TOTAL USAGE 2,342 2,476 2,683 2,533 2,883 2,842 2,829 3,012 2,966
  DECEMBER 1 STOCKS 6,940 6,541 7,906 5,937 8,080 6,106 6,903 7,247 8,095
  Free Stocks 1 5,918 5,608 7,394 5,072 6,806 5,495 6,540 6,823 7,495
  Price ($/Bu) $2.22 $2.31 $2.06 $2.34 $2.05 $2.78 $3.03 $2.52 $1.85
DEC-FEB Seed 0 0 0 0 0 0 0 0 0
  Food, Alcohol & Industrial 316 344 350 371 409 401 394 418 440
  Feed & Residual 1,365 1,276 1,417 1,248 1,493 1,348 1,492 1,510 1,600
  DOMESTIC USE 1,681 1,620 1,767 1,611 1,898 1,744 1,886 1,928 2,040
  EXPORTS 470 360 461 330 590 562 525 380 436
  TOTAL USAGE 2,151 1,980 2,228 1,941 2,488 2,306 2,409 2,307 2,476
  MARCH 1 STOCKS 4,789 4,561 5,678 3,996 5,592 3,800 4,494 4,940 5,619
  Free Stocks 1 3,318 3,526 4,134 3,185 3,883 3,225 3,832 3,987 4,517
  Price ($/Bu) $2.27 $2.40 $2.00 $2.71 $2.18 $3.18 $2.66 $2.54 $2.02
MAR-MAY Seed 17 20 17 20 18 21 21 21 21
  Food, Alcohol & Industrial 352 369 387 399 430 408 444 443 469
  Feed & Residual 975 1,061 1,153 954 1,163 1,048 1,105 1,090 1,209
  DOMESTIC USE 1,344 1,450 1,557 1,366 1,609 1,472 1,566 1,554 1,700
  EXPORTS 453 372 412 270 568 610 431 350 407
  TOTAL USAGE 1,797 1,822 1,969 1,636 2,177 2,082 1,997 1,901 2,107
  JUNE 1 STOCKS 2,992 2,739 3,709 2,360 3,415 1,718 2,497 3,039 3,513
  Free Stocks 1 1,888 2,002 2,475 1,826 2,072 1,425 1,890 2,339 2,613
  Price ($/Bu) $2.40 $2.48 $2.13 $2.67 $2.35 $3.83 $2.76 $2.43 $2.13
JUN-AUG Seed 2 0 2 1 2 0 1 1 1
  Food, Alcohol & Industrial 364 372 396 419 436 370 443 470 474
  Feed & Residual 683 837 896 798 850 530 814 859 869
  DOMESTIC USE 1,049 1,209 1,294 1,217 1,287 900 1,258 1,330 1,344
  EXPORTS 422 430 302 293 570 396 353 405 458
  TOTAL USAGE 1,471 1,639 1,596 1,510 1,857 1,296 1,611 1,735 1,801
  SEPTEMBER 1 STOCKS 1,521 1,100 2,113 850 1,558 426 883 1,308 1,711
  Free Stocks 1 939 791 1,351 610 1,089 363 704 998 1,386
  Price ($/Bu) $2.30 $2.31 $2.19 $2.35 $2.59 $4.32 $2.50 $2.13 $2.16

1:  Free Stocks = All stocks - CCC - Rsrv - Reg Loan - Spcl Prod Strge Loan
2:  National Average Price Received by Farmers
Exports:  ERS/USDA
Current on 10/12/98

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