Changes for 2021/22 corn ethanol & soybean use in April WASDE
In its April WASDE report, USDA made minimal changes to its existing forecast for corn but did adjust soybean use estimates.
USDA did not change its prior 2021/22 U.S. corn production estimate of 15.115 billion bushels, still above the past two seasons’ volumes. Corn use for feed and residual was cut by 25 million bushels to 5.650 billion bushels, while corn for ethanol and by-products rose by 25 million bushels to 5.375 billion bushels, leaving the previous forecast for total domestic use unchanged at 12.435 billion bushels.
The prior crop estimate for 2021/22 U.S. soybeans was left at 4.435 billion bushels. Exports rose by 25 million bushels to 2.115 billion bushels, while seed use rose to 106 million bushels. With residual use falling to 12 million bushels, total use for the season rose to 4.447 billion bushels, cutting forecast ending stocks to 260 million bushels.
U.S. corn used for feed/residual & ethanol by season
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