US Corn Balance to Tighten – 02/02/2022

The US corn balance could tighten through the remainder of the crop year. US corn exports will likely benefit from smaller South American corn crops than USDA assumed last month. The use of corn in ethanol production may also increase. The quantity of corn used as feed is less certain. Feed use is the most elastic category in the corn balance table. Six dollar plus corn could result in farmers opting to sell corn as grain rather than through raising  more livestock or poultry.