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Corn prices are now up about 10% over the past month. ... $5 per bushel cash for corn for delivery immediately or after April 15. Local buyers last fall were offering about $4.30, well below his ...
One bushel of corn can produce 2.8 gallons of ethanol in as well as 17-18 pounds of DDGS. [13] Compared to other major sources, corn is the least efficient means of ethanol production. In 2007, the production process used 75% of the energy extracted. [14] [needs update] On account of great demand for ethanol, corn is fetching higher prices.
The price of corn in the United States has been increasing this year and is now approaching record highs. As of Monday, according to The Wall Street Journal, corn prices are up 50%, with the cost ...
Those estimates hint that $4 per bushel corn might be priced at only $3 without demand for ethanol fuel.". [123] These industry sources consider that a speculative bubble in the commodity markets holding positions in corn futures was the main driver behind the observed hike in corn prices affecting food supply. [citation needed]
Corn prices on the Chicago Board of Trade dropped from US$7.99 per bushel in June to US$3.74 per bushel in mid-December; wheat and rice prices experienced similar decreases. [159] The UN's Food and Agriculture Organization, however, warned against "a false sense of security", noting that the credit crisis could cause farmers to reduce plantings ...
That is, if the price of wheat in 2002 was $3.80, farmers would get an extra 58¢ per bushel (52¢ plus the 6¢ price difference). Fruit and vegetable crops are not eligible for subsidies. [39] Corn was the top crop for subsidy payments prior to 2011.
The Corn Laws were tariffs and other trade restrictions on imported food and corn enforced in the United Kingdom between 1815 and 1846. The word corn in British English denoted all cereal grains, including wheat, oats and barley. [1] The laws were designed to keep corn prices high to favour domestic farmers, and represented British mercantilism.
In the United States, 40% of the acreage designated for corn grain is used for corn ethanol production, of which 25% was converted to ethanol after accounting for co-products, leaving only 60% of the crop yield for human or animal consumption. [30] Growing corn to fuel internal combustion vehicles is a highly inefficient use of land.