Stockpiles of U.S. corn are increasing at the fastest rate in 19 years. Inventories of U.S. corn as of December 1st totaled 10.764 billion bushels or 273.4 million metric tons – 34% more than a year earlier, and the biggest gain for a December 1st inventory since 1994. A survey of 30 analysts shows that the 2013 U.S. corn crop totaled 14.06 billion bushels – exceeding the December estimate by the U.S. Department of Agriculture (USDA) of 13.989 billion bushels and 30% more than 2012, with Macquarie Group Ltd. estimating a crop of 14.255 billion bushels – 32% higher than 2012. Low prices, increased meat buying among emerging global markets, a predicted 20% increase in feed demand, a predicted rebound in the Ethanol industry of 6.5%, and a doubling of corn imports by China to a record 7 million tons should all help boost the demand for corm which is forecast to increase for an 18th consecutive year to a record 936.73 million tons – up 44% from a decade ago. To read more about predictions for the corn market, future corn planting acreage, and domestic U.S. livestock industry conditions that will likely affect corn:
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