Drought seen slashing U.S. corn crop to 5-year low

By , August 7th, 2012 | Market News | 0 Comments

The worst drought in more than half a century has analysts expecting the smallest U.S. corn crop in five years, which will translate to smallest ending stocks next summer in 17 years, a Reuters poll of 21 analysts showed on Monday.

If accurate that supply forecast would result in the third year in a row of razor thin corn stocks. That would keep prices near record highs and ration demand for the world’s most popular livestock feed grain, analysts said.

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