date:Dec 12, 2012
s 2012/13 soybean crop to 81.4 MMT, from 81.25 previously.
For corn, demand side news remains relatively quiet with little stimulus seen from US export business. Corn prices did get some support last Wednesday from the EIA, which showed weekly ethanol production at its highest level since June. With continued poor crush margins for ethanol producers, it still seems likely that corn use for ethanol will fall short of USDAs current estimate of 4,500 mb for the year.
In the wheat market, Japan a