The U.S. Department of Agriculture (USDA) lowered U.S. corn exports by 75 million bushels in the December supply and demand report, which was in line with trade expectations. This put the U.S. carryout at 1.257 billion bushels as no other changes were made to either side of the balance sheets. Global corn ending stocks were cut 2.3 million metric tons to 298.4 million metric tons. . 

This...