Wednesday, August 8, 2007

Bad tidings for ethanol

This week's USDA report could be a precursor to another runup in corn prices, spelling bad times for an ethanol industry looking to get off the ground.

Friday's closely watched U.S. Department of Agriculture crop report could serve as a gloomy bellwether for the nation's ethanol industry.

Despite projections of a record harvest, many analysts are expecting corn prices to surge over the next several months as farmers give back this year's unprecedented corn plantings of about 90 million acres to wheat and soybeans....

From CNN Money