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CORN EXPORTS AT RECORD LEVELS
National Corn Growers Assoc reports:

U.S. corn exports are at an all-time high, the USDA reported today in its latest World Agricultural Supply and Demand Estimate.

The corn export forecast for 2007/08 has been raised by 100 million bushels, to a projected 2.45 billion bushels, surpassing the previous record for corn exports of 2.4 billion in 1979/80.

"Our nation's corn growers are working hard this year on record production and export numbers to help feed and fuel the world," said Ron Litterer, president of the National Corn Growers Association and a grower from Greene, Iowa. "We salute their hard work and their commitment to meeting demand."

The USDA did not revise its November estimates for production and yield. Farmers are completing their harvesting of 13.2 billion bushels of corn on 86 million acres, for an average yield of 153 bushels per acre. The increase of exports signals a 100 million bushel decrease in estimated surplus, or ending stocks. Also, the USDA reported that season-average farm price for corn is projected at $3.35 to $3.95 per bushel, up 15 cents on both ends of the range based on reported prices to date and higher cash and futures prices.


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