The U.S. Department of Agriculture projects a record 13.4 billion bushels of corn will be produced this year. This uptrend will ease tension between corporate livestock interests and American farmers and ethanol producers, according to the ethanol industry trade group, the Renewable Fuels Association (RFA).
Key points of the report noted by the RFA: Corn supplies are expected to grow to a record 15.1 billion bushels; farmers expect to plant 88.8 million acres of corn; yield expectations are up 163.4 bushels per acre; year-end surpluses are anticipated at 1.8 billion bushels, up from last year. In 2010/11, about 4.6 billion bushels of corn are anticipated to be used in ethanol.
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