Department of Agriculture sees corn stocks lower, narrow average price range
The Department of Agriculture lowered its projection for U.S. feed grain ending stocks for 2011/12, citing corn and oats imports being more than offset by higher expected corn exports. Corn ending stocks projections were dropped 45M bushels, to 801M. Season average farm corn price forecast was narrowed 10c on both ends of the range, to $5.80-$6.60 per bushel. Global coarse grain supplies for 2011/12 are projected 3.1M tons lower, on reduced corn production from Argentina and Paraguay. Reference Link :theflyonthewall.com
Subscribe for More Information