Ethanol and corn useage
I just read that Informa has raised the corn usage for ethanol by 75 million bushels due to increased profit margins in the ethanol industry.....I also read that the profit margin for ethanol is the best it has been for over a year. Looks to me that the ethanol plants are gonna run full steam ahead if they can find the corn. It's a good thing that USDA found a few million extra bushels lying around.
Also, Alan Brugler on Market to Market said that many folks believe that all of the extra corn that the USDA "found" will be used up and gone by Sept. 1.