sunfisher76 Wrote:
Apr 24, 2012 8:30 AM
Well written John. I'll also add that during all of this "terrible global warming", that yields have increased from the low 100's per acre to mid 150's. Warming hasn't seemed to hurt the yield side. The decade of the 90's saw average production of 8.4B bushels with essentially zero use in ethanol. Now we're producing in the 13 - 14 billion bushel area and putting 5 Billion bushels into gas tanks. Good or bad, the volatility is ethanol driven. It should also be noted that these additional corn acres are coming at the expense of alternative crop acres; reducing those supplies and thus driving up those prices.