Ethanol pushes corn supply to 15-year low

Americans should brace for higher food prices this year now that demand for corn has pushed U.S. supplies to their lowest point in 15 years. Higher projected orders from the ethanol industry sent corn futures soaring Wednesday, as corn supplies became the latest commodity to plummet. Low levels of wheat, coffee, soybeans and other food staples have already sent prices surging on the global market. The ethanol industry's projected corn orders this year have risen 8 percent, to 13 billion bushels, after record-high production in December and January, the Agriculture Department said.

Read Full Article from Minneapolis Star Tribune

- Posted: 2011-02-09 22:29:41

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