The lower corn stocks number from the USDA could be the first hint at a less than ideal corn crop still being harvested. “I did two separate meetings with the head of the Illinois National Agricultural Statistics Service and also Lance Honig, the crops branch chief of the U.S. National Agricultural Statistics Service last month,” said Mike Zuzolo, president, Global Commodity Analytics and Consulting. “Both were very aware of what is happening in farm country. I’ll be on the lookout for this information from the USDA.” The April Supply and Demand report could include the actual numbers from the agency. “We need a better carry-in number in the April report to offset what we could lose in terms of ethanol demand. Even though exports and feedings have picked up, they aren’t keeping pace with the potential loss in ethanol demand at this stage in the game. I think the markets have factored a lot of that in.”
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