Winter storms, biofuel development put pressure on prices

Winter storms, biofuel development put pressure on prices

Biofuel development will continue to drive a wide range of commodity costs in 2007. Corn used for ethanol output has increased to 2.2 billion bushels per year in 2006—20 percent of our current corn crop—and will grow to near 3 billion bushels in 2007. High corn syrup and fructose costs will affect beverage producers. Increased feed costs will cut profits for poultry, egg, livestock and dairy producers. That will lead to lower production levels and eventually mean higher prices for a wide r

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