Corn Gets the Headlines, But Keep an Eye on Wheat in 2012

As usual, corn was in the spotlight when USDA issued its World Agricultural Supply and Demand Estimates (WASDE) on April 10. But if what we’re hearing from abroad proves out, North American wheat production could be a bigger factor in commodity prices in the marketing year ahead.

The USDA maintained its 2011-12 production outlook for corn of 865 million metric tons, but lowered its beginning-stocks projections. As a result, global corn stocks-to-use is now estimated…

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