date:Oct 12, 2012
rom its estimate of 733 million last month. The latest projection was lower than the 645 million bushels predicted by analysts.
The USDA left its demand forecasts mostly unchanged for corn, but pared its forecast for exports of the grain by 8%.
The government cut its estimate of global corn stockpiles next year by 5.4%, to 117.27 million metric tons. Arlan Suderman, senior market analyst for farm-advisory firm Water Street Solutions, said the government's world stockpile projection would leave a