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US corn prices drop 25 percent as bumper crop looms; ethanol crush spread doubles since April

US corn prices have dropped nearly 25 percent and have reached a low of $3.35 for the July contract, creating a 41-cent per gallon “crush spread” for ethanol producers, up from 14.2 cents in April. The drop in corn prices follows an increase by the USDA in its corn and soybean planted acres report, released [...]