US farmers plant largest area to corn in 63 years for ethanol use

UNITED STATES farmers plan to cash in on the ethanol fuel boom by planting the largest area to corn in 63 years, potentially yielding a record crop and calming fears that renewable fuels will steal grain needed for food and feed, the federal government said. Even with record output, this year’s corn crop could sell for a record US$3.50 to US$3.60 a bushel at the farm gate, market watchers said. Corn prices have doubled since last fall due to explosive growth of the ethanol industry, driving up costs for cattle, dairy, hog and poultry producers.

BruneiTimes