Study: Ethanol supporting rise in grain prices
By Tim Mitchell
Tuesday September 16, 2008
CHAMPAIGN – A study released Monday by two University of Illinois farm economists shows that grain prices are likely to remain high as a result of ethanol, marking the first sustained increase in corn and soybean prices in Illinois in more than 30 years.
Darrel Good, a professor of agriculture and consumer economics, said that the use of corn in ethanol will likely mean Illinois corn will likely average $4.60 a bushel. That's nearly twice the average price of $2.42 a bushel paid between 1973 and 2006.
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