Corn set for big feed year

Corn could see stronger demand from the livestock industry because of lower prices prompted by record global production, Bloomberg reported Wednesday.

After losing out to wheat, corn could rebound now that July-delivery was as much as $1.015 a bushel less than wheat last month.

Less expensive corn in the 2012-2013 crop year may lead livestock producers globally to feed a record-setting 515.4 million metric tons of the grain, according to the International Grains Council.

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Wheat feed use could decline 9.2 percent to 128.8 million tons.