No Changes in US Corn Balance Sheet
By Cindy
Posted: February 10, 2009
Posted: February 10, 2009
There are no changes this month to the U.S. corn balance sheet in the USDA World Supply Demand report out this morning.
According to the report, ethanol blender and producer margins have recently improved and weekly production of gasoline blends with ethanol has risen. The projected season-average farm price range for corn is narrowed 10 cents on each end to $3.65 to $4.15 per bushel.
Globally, USDA reports coarse grain supplies for 2008/09 are lowered 0.9 million tons this month with reductions in corn production for South America and India and world corn production for 2008/09 is lowered by 4.6 million tons.
