date:Mar 13, 2013
e harvested and presumably used before the start of the marketing year on 1 September. Conversely, the estimate of use during the fourth quarter of the 2011-12 marketing year was likely underestimated for the same reason.
To gauge the pace of recent consumption we have looked at combined consumption in the last quarter of the previous marketing year and the first quarter of the current marketing year. Implied feed and residual use of corn during those two quarters was nearly five per cent larg