Brazilians Save World From Corn Shortage
Filling gap caused by U.S. drought
Despite the historic drought that crushed US corn crops this summer, today's feedstock report from the USDA projects record worldwide corn supplies for 2012/2013.
Thank the Brazilians.
"Brazil's corn exports for trade year 2012/13 are raised over 30 percent this month to a record 19.0 million tons, supporting an increase in forecast corn trade and a sharp reduction in U.S. exports to the lowest level in almost 40 years," wrote the USDA.