Estimate of corn use for ethanol raised

Estimate of corn use for ethanol raised

THE U.S. Department of Agriculture's December crop report lowered U.S. corn exports by 50 million bu. to 1.75 billion and raised ethanol use by 25 million bu., resulting in a net gain to ending stocks of 25 million bu.

Those were the most notable changes in the report, which is typically known for minor rather than major adjustments. The soybean and wheat numbers were unchanged, with soybean ending stocks staying at 465 million bu. and wheat at 911

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