Ag secretary says U.S. isn’t “going to run out of corn”

washington / reuters U.S. Agriculture Secretary Tom Vilsack says tight corn stocks aren’t a cause for concern.

“We really have to wait until the kernels are counted and the (soy) beans are counted to know the impact of the drought,” said Vilsack. “I don’t think the United States of America is going to run out of corn.”

The USDA estimates the corn stockpile dipped below one billion bushels on Sept. 1 — the lowest beginning stocks level in eight years. Vilsack downplayed the effect the small stockpile could have on an Obama administration decision, due later this year, whether to relax a federal requirement to use corn ethanol in gasoline.

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