USDA adjusts 2014/15 corn consumption lower by 9 million bushels

In Washington, the USDA’s estimate for 2014/15 corn consumption to produce ethanol fell by 9 million bushels, according to the latest monthly Grain Crushings and Co-Products Production 2015 Summary report published March 1. Its overall estimates for corn production during 2015/16 fell by 1.6 million tons due to lower production in South Africa and the Philippines as well as lower opening stocks in Brazil. Lower production in both countries is as a result of ongoing dryness.