date:May 11, 2012
raise its forecast.
U.S. corn production is expected to rise this year to a record of 14.79 billion bushels, from 12.358 billion bushels last year, as farmers boost yields to what could be a record 166 bushels an acre, the government said. Yields last year were 147.2 bushels an acre.
Analysts for months have been worried about tight current corn supplies. Spot markets for physical delivery of the grain have been very strong, suggesting low availability. Recent Chinese purchases have heightened