Corn Farmers Beaten by Demand, Boosting Prices: Chart of the Day
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Corn demand is accelerating beyond farmers’ ability to boost yields, depleting stocks and adding to price gains as consumption in China and ethanol factories grows.
The CHART OF THE DAY shows gains in farm productivity have trailed demand that expanded more than fourfold since 1961, according to U.S. Department of Agriculture data. Consumption accelerated in the past decade on Chinese demand for feed and corn starch and increased use in the U.S. for ethanol output.