Corn Commentary

Will They Admit Their Error?

From Reuters, today:

Ethanol no longer seen as big driver of food price

Heavy demand for corn from ethanol makers was seen as a key driver of corn futures to record highs in June, but since then the sharp decline of corn along with other commodities shows that belief was mistaken.

“The record high prices were a speculative bubble,” said Stewart Ramsey, senior economist for Global Insight, Philadelphia.