|
|
|
CARD Director testifies before Senate Ag CommitteeIowa Expectations for greater biofuel plant capacity and the federal Renewable Fuels Standard have created a "can't lose" demand proposition for U.S. corn and soybean farmers, according to the testimony of Bruce A. Babcock at a field hearing of the Senate Agriculture Committee on food, feed and fuel production at the University of Nebraska, Omaha, on Aug. 18. Babcock, a professor of economics and director of the Center for Agricultural and Rural Development at Iowa State University, told the committee that ethanol mandates have created a demand of between 25 and 30 percent of the U.S. corn crop for fuel production. Babcock said he expects a bright outlook for corn and soybean prices over the next five years, facilitated by tax credits and energy mandates, and as long as crude oil prices remain above $100 per barrel. There is little doubt, said Babcock, that biofuels from corn and vegetable oil will meet levels mandated by Congress. A copy of Babcock's full statement at the Aug. 18 hearing is available at http://www.card.iastate.edu/presentations. 9/8/08 Date: 8/29/08 Advertisement
Copyright/Privacy
Copyright 1995-2009. High Plains Publishers, Inc. All rights reserved. Any republishing of these pages, including electronic reproduction of the editorial archives or classified advertising, is strictly prohibited. If you have questions or comments you can reach us at High Plains Journal 1500 E. Wyatt Earp Blvd., P.O. Box 760, Dodge City, KS 67801 or call 1-800-452-7171. Email: webmaster@hpj.com |
Market Snapshot Inside Futures |
