Brazil Expected to Consume Much of Its Bumper Corn Harvest
Domestic corn demand in Brazil will keep out of global markets much of the country's second-largest harvest ever.
Brazilian corn exports this year "are projected to decline due to rising domestic demand from animal feed producers and the expanding corn ethanol industry," University of Illinois researchers write.
Brazilian ethanol is typically made of sugar cane, but the use of corn is growing. The harvest is expected to reach 5 billion bushels, higher than last year's and above previous projections.
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