Ethanol Demand Raises Corn Prices to 11-Year High
December 15, 2006
• by Staff
WASHINGTON, D.C. --- The U.S. Department of Agriculture reported this week that because of ethanol demand, farmers are getting the best prices for corn in more than a decade.
American ethanol fuel plants are expected to use about 20 percent of the corn crop while exports should use about the same share, according to an AP report.
Average corn prices for the year were estimated at $2.90 to $3.30 a bushel -- up 10 cents from last month's estimate.
Originally posted on Fleet Financials