US Govt. Expects Bigger Corn Surplus in 2012
US gov’t expects bigger corn surplus in ‘12; could lower corn prices and slow food inflation
The Department of Agriculture estimated Wednesday that farmers have 206 million more bushels of surplus corn on hand at the start of this year’s harvest. That means farmers will have 866 million bushels of corn on hand at the end of next summer, which is higher than last month’s forecast of 672 million bushels.
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