USDA report projects more corn usage
Last week’s World Agricultural Supply and Demand Estimates (WASDE) sparked some market momentum in corn right after the report was released, but seemed to disappoint for soybeans, Farm Journal reported.
The U.S. Department of Agriculture (USDA) revised its monthly corn outlook by lowering ending stocks. The USDA said the adjustment is based on increased needs for feed, a bump in ethanol production and an increase in corn exports.
The USDA raised feed/residual use by 50 million bushels; raised corn used for ethanol by 25 million bushels;...
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