Posted on 06/28/2010 1:00:25 PM PDT by epithermal
“I would be interested to hear your theory as to how corn received a $2.00 per bushel subsidy in 2008. (By the way,July, 2008, corn futures peaked at a little over $7.50 per bushel in June of that year. July, 2010, futures lasted traded on the CME at $3.274, for what it’s worth.)”
Yes, LOTS of factors, not just “ethanol” make up the changes in demand and price (like the world demand recession in agricultural commodities since 2008). The fact is that, whatever today’s price of corn is, minus the demand and alteration of corn markets from subsidized and legally mandated ethanol, that price would be less.
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