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Heck said he recently hauled corn as fast as he could to a local plant owned by POET, the world's largest ethanol producer, that offered to pay cash prices 42 cents per bushel, or about 10% ...
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 ...
If demand for corn is high and projected revenue-per-acre is strong relative to other crops, farmers will plant more corn. In 2007 US farmers planted 92,900,000 acres (376,000 km 2) with corn, 19% more acres than they did in 2006. The U.S. has doubled corn yields over the last 40 years and expects to double them again in the next 20 years.
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.
Its benchmark overnight interest rate is now in the 4.50%-4.75% range, having been hiked by 5.25 percentage points between March 2022 and July 2023 to tame inflation. ... items to grab right now ...
During the 2008 financial crisis corn prices, fell 50% from their July 2008 high by October 2008, in tandem with other commodities, including oil, while corn ethanol production continued unabated. "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.
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]
The Federal Reserve is scheduled to hold its final two-day meeting of 2024 on Dec. 17 ... downturn in the U.S. right now, ... of the Fed's rate-hiking cycle from 2022 and 2023 just yet. ...