Corn prices coming down would be great for livestock breeders.
check it out:
The USDA boosted its estimate for domestic corn use 2013-2014 corn use by 100 million bushels in this month’s Feed Outlook report, based on projected increases in ethanol production and grain exports for the new crop.
The Department now projects corn exports for the 2013-2014 crop year at 1.5 billion bushels, up 50 million bushels from last-month’s estimate, based on year-to-date sales. With the 2013 crop estimated at just under 14 billion bushels, more competitive prices have boosted U.S. market share of corn trade to 33 percent, compared with 18 percent in 2012-2013.
USDA also raised its forecast of new-crop corn use for ethanol production by about the same amount, based on strengthening U.S. ethanol prices and production during October and November.