And after the corn is used in ethanol production, it is used for animal feed.
Which was the majority of the US field corn market in the first place.
Here’s a listing of various animal feed products and prices:
http://agebb.missouri.edu/dairy/byprod/AllCompanies.asp
See that “distillers grain” in the listings? That’s the by-product of ethanol production. “Wet” means just that, “dried” means the moisture was cooked off for denser transport.
Meanwhile a close friend of mine here in Iowa has raised hogs for ages but now he's about to go out of business due to corn prices.
The ethanol boondoggle was doomed from the start as it takes more resources to manufacture than the fossil fuels it's supposed to replace. It doesn't even break even economically...which is why it has to be subsidized by us taxpayers.
I guess ethanol looks good on paper and in theory, but when you get down to the farm it's another story.
Important to note that there is a not a one for one replacement of distillers grains for corn. For feeder cattle, it is not recommended to go above 20% distillers grain in the feed. The distillers grain is is used as a protein supplement.