NEWS
Jerry Gulke DTN Columnist
Mon May 13, 2013 06:58 AM CDT

The USDA disappointed the bulls again Friday. There were no new revelations or surprises for old crop 2012/13 marketing year corn and the perceived tight stocks situation as ethanol was raised 50 million bushels and exports lowered another 50 mb. Feed usage was left unchanged. Both exports and corn used for ethanol are quantifiable, whereas any increase or decrease in corn used for feed needs another stocks report to verify. Odds are, further monthly reports will see reductions in exports for the old crop as we are not only noncompetitive, but sourcing corn for export remains a challenge. It is ...

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