According to the Livestock Marketing Information Center (LMIC), the corn market so far this quarter has been reflecting the effects of last fall's huge harvest, good overseas buying interest and accelerating usage from the U.S. corn-based ethanol industry.
The 15.1 billion bu. 2016 corn harvest — 11.3% larger than the prior year — has kept corn prices on the defensive during the last half of last year, which has benefited livestock producers, LMIC said.
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