China, ethanol use keeps corn stocks at 15-year lows

admin | July 13, 2011

In Washington, the USDA says corn stocks will stay at 15 year lows for longer than expected with ethanol and Chinese imports as the main users of the anticipated supply. The most recent usage estimates were 3% higher than expected by traders, offsetting some of the expected increase in supply. Ethanol will become the largest consumer of corn for the first time ever surpassing livestock use.