USDA’ Corn Feed Residual estimate in Perspective – 10/16/20

Published by David Tedrow on

This month USDA forecast 2020/2021 U.S. feed residual usage at 5775 million bushels compared to 5827 million bushels a year ago. Feed/residual usage is a function of animal numbers, expressed as grain consuming animal units, and the cost of corn as represented by the average price of corn at farm level.  

USDA’s feed-price October estimates for 2020/2021 land directly on the regression line. Note in the first chart USDA feed estimates can change substantially even at the end of the season. Feed usage is a residual calculation   and crop production errors are incorporated in the estimate.

Categories: Grains

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