USDA releases World Agricultural Supply and Demand Estimates: sorghum for biofuels demand increases sharply as corn demand fades

In Washington, the USDA’s latest World Agricultural Supply and Demand Estimates increased sorghum demand projections by 40 million bushels due to increased use of sorghum for ethanol production. As the same time, the USDA lowered its global corn production forecast by 4.6 million tons, and raised soybean export projections by 50 million tons. Ethanol margins were noted to be improving, as well as blending volumes with gasoline.

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