The United States Department of Agriculture released its monthly World Agricultural Supply and Demand Estimates (WASDE) report that confirms further deterioration in this year’s U.S. corn harvest, thus exacerbating an already dire situation. Also, compared with its August report, USDA reduced its current estimate for the 2012 world corn harvest by 8 million metric tons or almost 1 percent.
In light of the further reduction in corn crop estimates, a coalition of livestock, poultry, meat and dairy groups renewed their call for the U.S. Environmental Protection Agency to issue a full, one-year waiver from the Renewable Fuels Standard in an effort to provide producers with some relief and to create a more balanced playing field for the end users of corn.