USDA raises outlook on U.S. corn surplus

02/10/2013 | Bloomberg Businessweek

The U.S. corn surplus will total 632 million bushels at the end of the marketing year on Aug. 31, up 5% from the 602 million bushels predicted in January but down from last year's ending stocks of 989 million bushels, according to a Department of Agriculture report, which cites slowing demand. About 4.5 billion bushels will be diverted to ethanol production, the same amount forecast in January and less than the 5.011 billion bushels last year, the USDA said.

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