Weekly Market Update: 1/13/10
Yesterday's USDA's "final" corn crop production number confirmed that there will be adequate supply numbers with production over 13 billion bushels and ending September carryover of 1.7 billion bushels. The report itself showed corn used for ethanol at 4.2 billion bushels and for livestock at 5.5 billion bushels. Analyst are forecasting this should assist in improving industry margins. Keep in mind we will have a "revised final" number in March and that there are investment fund managers advising investors to own commodities as hedge against Federal budget.
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