RISING CORN PRICES DISRUPT ETHANOL

SIOUXLAND—Rising corn prices have increased the value of Iowa’s crop by billions of dollars, but financial experts say the spike in corn cost could harm production of ethanol. Corn traded at around $3.60 in mid-June. The rise means Iowa’s corn crop’s worth has gone from $13 billion in mid-June to more than $18 billion this month. Des Moines commodity trader Tomm Pfitzenmaier of Summit Commodities says if the price of corn continues to go up, “ethanol production could come to a screeching halt.” The high prices also affect hog and cattle producers, who will see higher feed costs.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: