Corn stocks head lower, prices higher through 2012: USDA

In Illinois, corn prices are expected to stay high for another year as USDA estimates show that corn stocks will finish lower again for the second year in a row. It is also the first time that more corn will be used for ethanol production than as livestock feed.

Despite the smaller production and end stocks, farmers have been converting from other feed crops like sorghum, barley and oats in favor of corn, meaning less animal feed availability all around.