Brazil’s corn and ethanol exports surge in the wake of U.S. drought

Brazil’s trade ministry said the country’s exports of corn and ethanol rose in October as foreign buyers turned to Brazil after the worst drought in 50 years ravaged U.S. crops, according to a Reuters report. Brazil harvested a record corn crop of nearly 73 million metric tons (80.47 million tons) this past season, which surpassed its soy output for the first time in a decade.  Corn exports last month reached a record 3.66 million metric tons to beat September shipments of 3.14 million and October year ago exports of 1.52 million.  Read More