USDA Lowers Corn Ending Stocks Forecast Due to Increased Ethanol and Feed Usage
The U.S. Department of Agriculture (USDA) has adjusted its projection for domestic corn ending stocks, citing an increase in the grain’s utilization for ethanol biofuel production and feed for farm animals. This adjustment comes as corn usage forecasts rise following a period of three-year low futures prices, despite global corn supplies being deemed abundant. Consequently, […]