When USDA issued its World Ag Supply and Demand Estimates (WASDE) report on July 12, it noted that in 2011 it expects corn for ethanol to exceed the amount used in animal feed for the first time ever.
The agency projects that 5.05 billion bushels of corn will go into the production of ethanol, while 5 billion bushels will be headed to the feed market. USDA projected this trend will continue throughout 2012, as well.
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