Kiplinger Letter: More U.S. corn to be used for ethanol

October 2, 2006

The Kiplinger Agriculture Letter projected ethanol plants will use 23 percent of the U.S. corn crop next year—more than double what was used in 2004—leaving 58 percent for consumption by people and livestock in the United States after exports. With increased ethanol demand, 2007 corn prices are expected to rise to an average of $2.50 per bushel or more. Also, West Coast ethanol production is predicted to grow significantly with 14 large facilities under development in California and Oregon.

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