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Corn reserves dip to 28 year low as exports surge
U S Agriculture Department projects corn stocks at 313 million bushels this fall a 28 year low due to record export demand including drought hit Western Europe. They expect a quick rebound to about 817 million by fall 1977 if harvest remains strong and note 1976-77 exports total about 1.45 billion bushels while wheat exports reach 1.05 billion. Currently 1975-76 exports are set to hit a record 1.7 billion bushels by Sept 30 with Western Europe driving demand.
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