Thursday, January 11, 2007

1 Billion Bu more corn needed this year for Ethanol

Dow Jones is reporting that this coming growing season will require 1 billion more bushels of corn for the ethanol industry.

WASHINGTON (Dow Jones)--The booming U.S. ethanol industry will require 1billion more bushels of corn for fuel production this year than it did from the2006 crop, U.S. Department of Agriculture Chief Economist Keith Collins saidWednesday. "Looking ahead to the 2007 crop of corn," Collins told the Senate AgricultureCommittee, "it is quite likely, based on current ethanol plant construction,that corn used in ethanol production will rise by more than 1 billion bushelsfrom the 2.15 billion bushels of the 2006 corn crop expected to be used forethanol."

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