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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."

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