2009-10 Corn Carryover Lower than Expected

On May 12, USDA released its first official balance sheets for the 2009-10 crop year and its forecast showed corn ending inventories are now lower than expected at 1.15 billion bushels vs. expectations of 1.38 billion. This presents a “mixed outlook” for ag machinery sales, according to analysts.

Corn Carryover. USDA is forecasting 2008-09 corn carryover at 1.6 billion bushels vs. expectations of 1.71 billion, and 2009-10 carryover at 1.15 billion, lower than the trade…

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