date:Mar 28, 2013
arter, probably around 13 per cent or so. Considering the decline in both ethanol and export demand, the average trade estimate of ending stocks implies that corn and residual during the Dec-Feb quarter probably was around 1.47 billion bushels, about 4.6 per cent below the same quarter a year ago (we have a 53 million bu. corn import number factored in).
The survey will confirm whether this expectation is warranted. Feedlot inventories have been down about 6 per cent from a year ago during the