Three consecutive years of smaller U.S. corn harvests are driving inventories of the world’s most- consumed grain to a 39-year low and spurring Goldman Sachs Group Inc. to predict that prices will rise near record highs.
Global stockpiles will drop 11 percent to 117.61 million metric tons by Oct. 1, or 13.6 percent of what will be used for food, ethanol and livestock feed, the lowest ratio since 1974, the U.S. Department of Agriculture said today in a report.
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3 comments:
Good for fertilizer mlp's! I'll gladly take my 7-9% distribution and capital appreciation.
There would be plenty if we would gwt rid of he ethanol mandates on consumer gasoline. It is more expensive and a waste of a resource. There are no real fuel savings due to its lower efficiency and damage costs to the engines.
ethanol is good. Gets rid of unwanted corn piles and puts cash in farmers pockets.
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