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USDA raises corn use, trims stocks

USDA raises corn use, trims stocks

In its February World Agricultural Supply and Demand Estimates (WASDE) report, the U.S. Department of Agriculture (USDA) last week raised the 2016/17 U.S. corn outlook for increased food, seed and industrial use and reduced ending stocks.

Corn used for ethanol production was raised 25 million bushels to 5.35 billion. Non-ethanol corn for food, seed and industrial use was raised by 10 million bushels.

Corn ending stocks were 34 million bushels lower than in January.

The season-average corn price narrowed 10 cents on each end to $3.20 to $3.60 per bushel, according to the report.

Soybean supply and use pro­­jections for 2016/17 were...




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