South American corn bolsters drought-ravaged U.S. stocks
date:May 16, 2013
er tonne free on board (FOB).

But prices remain well below the cost of corn in the United States, where basis values this spring are near historically high levels at many locations.

East Coast corn users in particular have been relying on imports because the cost of shipping less-expensive corn from South America is lower than that of shipping U.S. corn from the Midwest by rail.

Including ocean freight from South America of about $30 to $35 per tonne, Argentine corn shipped to the U.S. East C
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