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Corn Leads Coarse Grain Stocks Higher
WASHINGTON - Feb 11/03 - SNS -- Coarse grain supply and use projections increased slightly from the USDA's January estimates, contributing to a tighter price outlook for major feed ingredients.
Larger corn crops in Argentina, the EU, Russia, and Ukraine account for most of the rise in global coarse grain production.
Global corn imports are up slightly from last month, largely due to higher expected purchases by South Korea. The bigger corn crops in Argentina and Ukraine are expected to lead to larger exports, resulting in reduced exports by the United States.
The larger EU corn crop and revised EU beginning stocks of corn account for much of the gain in projected 2002-03 global coarse grain stocks.
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