Record Amount of Corn to Be Used for Ethanol

A record 4.95 billion bushels of corn will be used to make ethanol, according to the U.S. Department of Agriculture. That estimate is up from 4.568 billion from last year. The ratio of U.S. corn inventories to usage is expected to drop 5 percent, one of the lowest since 2009-10. Meanwhile, nearly 1.95 billion bushels will be exported this marketing year as corn used for livestock feed will increase to 5.2 million bushels from 5.14 bushels estimated for 2009-10. Read more (Bloomberg Businessweek).