USDA lowers corn ending stocks
Today's USDA supply and demand report lowers corn ending stocks. According to the report released this morning by the World Agricultural Outlook Board:
"U.S. corn ending stocks for 2010/11 are projected 70 million bushels lower this month with higher expected food, seed, and industrial use. Corn used for ethanol is projected 50 million bushels higher on a higher-than-expected November final ethanol production estimate and weekly ethanol data that indicate record output for December and January."