By using corn as fuel it has raised prices making farming profitable.
1960 Corn $1.05/bu
1960 New Chevrolet $2500.00
2008 Corn $4.00
2008 New Chevrolet $32,000.00
Corn should be $13.40/bu
1960 New combine $7,500.00
2008 New Combine $250.000.00
Corn should be $34.66/bu
The American farmer is still getting the shaft.
Yes they are but it is getting better for a change.
CEO’s can make millions of dollars but thats ok by some on FR, but the minute a farmer starts to get a fair price for his crops, then the complaining starts. Go figure. Corn is just like anything else, no one really cared until oil went up and corn became more valuable because of ethanol. Then here come the speculators driving up the price and the farmer gets blamed. The real news is the everyday farmer is not the one making the big money from this. For those who think that the corn just simply disappears here is some info. http://www.ethanol.org/index.php?id=38&parentid=8#Distillers%20Grain
I’m not defending or promoting ethanol, just defending the American farmer. There have been reports that defend both points of view pro and con, so the jury is still out IMO.