U.S. corn supplies will be bigger than previously thought as the country’s export program faces stiff competition from a massive crop in Brazil, the government said on Wednesday. Domestic end stocks of corn for the 2022/23 marketing year were pegged at 1.342 billion bushels, the U.S. Agriculture Department said in its monthly World Agricultural Supply and Demand Estimates report. That compares with the government’s February outlook for 1.267 billion bushels. Analysts had expected the March report to show U.S. corn ending stocks of 1.308 billion bushels, according to the average of estimates given in a Reuters poll.
Source: Money Times