U.S. Corn Reserves May Fall 7.1% on Reduced Output, USDA Says

Bloomberg Businessweek
July 09, 2010, 8:54 AM EDT

July 9 (Bloomberg) -- U.S. corn inventories may slide 7.1 percent next year, the government said, as demand grows and after excess rain prompted farmers to plant less and trimmed yield potential.

“The reduction in the corn carryover has drastically changed the supply dynamics,” Roy Huckabay, the executive vice president of Chicago-based Linn Group, said before the report. “Too much rain in the Midwest and hot, dry weather in the southern and eastern U.S. are causing crops to walk backwards.”

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