USDA maintains forecast for corn use in ethanol in December WASDE

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The USDA maintained its forecast for 2022-’23 corn use in ethanol in its latest World Agricultural Supply and Demand Estimates report, released Dec. 9. Foreign corn production is reduced with forecast declines for Ukraine, Russia, the European Union and Vietnam. Ukraine production is sharply lower with reduction to both area and yield as the ongoing conflict and record-setting autumn rainfall have relayed the harvest in key producing oblasts of Poltava, Sumy and Cherkasy. Russia corn production is lowered as harvest delays in the country reduce area expectations. For 2022-’23, corn imports are raised for the EU, but lowered for Canada, Iran, South Korea, Mexico, Vietnam, Philippines and Turkey.

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