USDA trims corn-acreage outlook, but still foresees a record crop

The Department of Agriculture's monthly supply-and-demand report for June lowered projections for corn acreage in the 2011-12 marketing year to 90.7 million acres, down 1.5 million acres from May projections. Corn production is expected to reach a record 13.2 billion bushels, down 305 million bushels from May projections but 753 million bushels larger than last year's crop, the report showed.

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