Drought Tightens Corn Supplies The U.S. produces nearly 40 percent of the world’s corn on average, so limited alternatives are available to make up for this year’s drought-reduced crop. Among major exporters, Brazil and Ukraine have shown signifi cant production growth over the last fi ve years. But because much of Brazil’s exportable surplus comes from second-crop harvest, signifi cant new-crop supplies to meet world import demand won’t come until well into 2013. Domestically, corn for ethanol usage held up the best in the wake of the short 2011 crop, while feed use and exports were cut by roughly equal amounts. In the current marketing year, less corn will likely be used to produce ethanol. – Tim Emslie •• SEE MORE •• Find more photos at chsinc.com/c. Your CHS Connection 17