U.S. lowers corn supply outlook
U.S. corn supplies will fall to an eight-year low due to rising demand from the ethanol and export sectors, the U.S. Department of Agriculture said in its monthly World Agricultural Supply and Demand Estimates report. But the soybean stockpile will be bigger than expected as high prices have cut into demand for soyoil and soymeal, Reuters reported.
Corn demand from both the ethanol and export sector was raised by 75 million bushels in the current marketing year, with ethanol processors seen needing 5.05 billion bushels while exporters will ship 2.85...
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