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One bushel of corn can produce 2.8 gallons of ethanol in as well as 17-18 pounds of DDGS. [13] Compared to other major sources, corn is the least efficient means of ethanol production. In 2007, the production process used 75% of the energy extracted. [14] [needs update] On account of great demand for ethanol, corn is fetching higher prices.
Since reaching record high prices in June 2008, corn prices fell 50% by October 2008, declining sharply together with other commodities, including oil. According to a Reuters article, "Analysts, including some in the ethanol sector, say ethanol demand adds about 75 cents to $1.00 per bushel to the price of corn, as a rule of thumb.
The Winchester bushel is the volume of a cylinder 18.5 in (470 mm) in diameter and 8 in (200 mm) high, which gives an irrational number of approximately 2150.4202 cubic inches. [4] The modern American or US bushel is a variant of this, rounded to exactly 2150.42 cubic inches, less than one part per ten million less. [ 5 ]
Before prices plunged last summer, Henebry said he sold some corn for $5.50 to $5.70 per bushel and then for as much as $6.21 per bushel delivered to the grain elevator.
Farmers earlier resisted sales as corn and soy futures prices sank to 2020 lows this year under pressure from large supplies. ... that offered to pay cash prices 42 cents per bushel, or about 10% ...
One major drawback with corn ethanol, is the energy returned on energy invested , meaning the energy outputted in comparison to the energy required to output that energy. Compared to oil, with an 11:1 EROI, corn ethanol has a much lower EROI of 1.5:1, which, in turn, also provides less mileage per gallon compared to gasoline. [7]
Indeed, the bushel, the best-known unit of dry measure because it is the quoted unit in commodity markets, is in fact a unit of mass in those contexts. Conversely, the ton used in specifying tonnage and in freight calculations is often a volume measurement rather than a mass measurement.
A massive population explosion in Europe drove wheat prices up. By 1770, a bushel of wheat cost twice as much as it did in 1720. [7] Farmers also expanded their production of flaxseed and corn since flax was in high demand in the Irish linen industry and a demand for corn existed in the West Indies.