date:Nov 26, 2012
ng crops on 24 percent more acres, with acreage up 13.4 percent in sub-Saharan Africa and Oceania. By contrast, crop acreage in the European Union is off four percent.
US corn exports were further hurt by the summer drought. According to the USDA, domestic corn production is expected to be down 13 percent from 2011, at 10.7 billion bushels. That would represent the lowest corn production volume since 2006.
For those reasons, the outlook for US corn exports going forward is less positive than a