date:Aug 21, 2013
corn were harvested before September 1. However, the required use is 90 million bushels less the average summer use in 2010 and 2011. It appears that use could exceed the USDA projection, leaving the inventory of old crop corn on September 1 less than the current forecast of 719 million bushels.
Taken together, recent developments suggest that new crop corn prices may have established a low before harvest. At least the extreme lows that have been reflected in some private forecasts now seem un