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Are things really more expensive these days? Compare prices and inflation to 50 years ago ... Sweet corn: 5 cents an ear, ... a hopeful decrease from last month’s average of $5.45. Car prices ...
The US is the world's largest producer of corn. [8] According to the United States Department of Agriculture (USDA), the average U.S. yield for corn was 177 bushels per acre, up 3.3 percent over 2020 and a record high, with 16 states posting state records in output, and Iowa reporting a record of 205 bushels of corn per acre.
December 1, 2023 at 7:06 AM. A combine harvests corn to be used for ethanol as a tractor hauls a grain cart on a section of farmland in Michigan on Thursday, November 16, 2023. ... Right now, it ...
An RFA lobby document states that "In a January 2007 statement, the USDA Chief Economist stated that farm program payments were expected to be reduced by some $6 billion due to the higher value of a bushel of corn. [32] Corn production in 2009 reached over 13.2 billion bushels, and a per acre yield jumped to over 165 bushels per acre. [33]
For example, since 2006, a portion of land that was also formerly used to grow food crops in the United States is now used to grow corn for biofuels, and a larger share of corn is destined for ethanol production, reaching 25% in 2007. [6]
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Other analysts say it adds around 20 percent, or just under 80 cents per bushel at current prices. Those estimates hint that $4 per bushel corn might be priced at only $3 without demand for ethanol fuel." [16] University of Wisconsin researchers determined the RFS caused corn prices to be 30% higher and other crops 20% higher. [17]
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