Weekly Outlook: Looking at 2020-21 corn consumption

Posted 8/24/20

URBANA, Ill. – Crop tour estimates and derecho damage brought USDA corn production forecasts for the 2020 crop under question over the last week. While a lower domestic supply of corn supports corn prices, USDA projections of corn consumption in 2020-21 under current economic conditions seem overly high, according to University of Illinois agricultural economist Todd Hubbs.

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