USDA sees higher demand for corn from ethanol but still lower prices

In Washington, the USDA says demand for corn is stronger due to more domestic demand for ethanol as well as increased expectation of exports. Despite the increase in demand, forecasts still call for $4.40 per bushel through August, compared to up to $6.89 seen during this past marketing year. So far corn prices are down 38% on the year but a bumper soy crop has also seen prices come down 5%.