Tag Archives: corn

34% of US Corn Harvest To Be Used for Ethanol

Despite the flooding in Iowa earlier this summer, the US is set to harvest its second largest corn crop ever.  Good news for the price of food for hungry people?  Not really, the USDA expects that 34% of the total corn crop will be used to make ethanol for biofuel. They project a price of $5-6 per bushel for the coming year, up from $4.25 for 2007/08. I can’t help but think that making fuel for SUVs out of food when there are still many poor, hungry people in the world is a bad idea.  But what do I know?