The U.S. corn carryout projection was reduced by 100 million bushels in the March supply and demand (WASDE) report to 1.44 billion bushels. This was the result of a 25 million bushel increase to ethanol demand and a 75 million bushel rise in expected exports. 

The average cash value on corn increased 20 cents to $5.65. The global corn carryout is now projected at 301 million metric tons, up 1.3 million metric tons on the month. Brazilian corn production ...