Monday, October 15, 2012

"EPA may slash use of ethanol in gasoline as corn crop wilts" NBC news (The Bottom Line)

"the U.S. Department of Agriculture forecast a sharp decline in farm grain output predicting next year’s global corn stockpiles will 5.4 percent – to the lowest levels in 39 years.  The USDA warned that only 23 percent of American corn crop yields are in “good” or “excellent” shape compared with 70 percent last year.
That sent prices for corn spiraling upward.  Hatch and others are hoping that by at least reducing the potential demand for corn stocks for fuel use demand prices may level off – which could, in turn, prevent a spiral driving up overall U.S. inflation rates."

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