In the October 2012 World Agriculture Supply and Demand Estimates report, the U.S. Department of Agriculture published its U.S. corn yield estimate for 2012 of 122 bushels per acre which, along with other changes made to the department’s inventory and demand estimates, resulted in a projected stocks-to-use ratio of 5.6 percent for the end of the 2012/2013 corn crop marketing year, which would be the lowest level in 17 years. As a result, CF Industries expects U.S. farmers to plant approximately 97 million acres of corn in 2013.The global ammonia market continues to be very tight, given supply reductions from Trinidad and Russian ammonia producers, along with robust demand from North American dealers and distributors building inventory in anticipation of a high volume of fall and spring ammonia application by farmers.
CF Industries Holdings, Inc. Reports Record Third Quarter Earnings
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