U.S. ethanol production uses less than 3% of global grain supplies

12/11/2012 | EthanolRFA.org/The E-Xchange blog

The Department of Agriculture's latest World Agricultural Supply and Demand Estimates report pegs this season's average corn price at $7.40 per bushel, down from the previous estimate of $7.60, writes Geoff Cooper, vice president of research and analysis for the Renewable Fuels Association. U.S. ethanol producers are expected to use 7.8 million metric tons of corn, representing just 2.92% of global grain stocks and the lowest in five years, Cooper notes. Meanwhile, the amount of grain available for nonethanol purposes will be the second-highest on record, bested only by the amount in 2011, Cooper states.

View Full Article in:

EthanolRFA.org/The E-Xchange blog

Published in Brief: