More Corn Going To Ethanol Production

Cindy Zimmerman

USDA’s latest crop production forecast calls for a U.S. corn crop of 11-billion bushels this year. While that’s seven-percent below 2004, it’s still an increase of two-percent from October and is on track to be the second largest corn crop on record – despite many major production states having drought conditions during a critical point in the growing season this year. This month’s outlook for 2005/06 U.S. corn is for increased production, higher domestic consumption, larger stocks, and lower prices. The good news is that more corn is going into ethanol production