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Old 07-29-2008, 12:14 PM   #92
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Originally Posted by mimartin View Post
Wasn't speaking to diesel cost, but to the cost of food. Diesel cost is a major reason why food costs have skyrocketed as most farm equipment and transportation runs on diesel. Now using corn in ethanol is a factor in both the costs of vegetables and meats, because we could use that same land to grow the type of corn used for human and animal consumption, but the price of diesel is having more of an influence on our cost than ethanol is.

Forgive me for not being clear to which one I was complaining about today.

No problem. You make a decent point, though. Was sort of under the impression that the switching of some of the corn crop to ethanol took it out of production for foodstuffs and hence created a kind of "artificial shortage" that was consequently affecting the value of the crop. Used to trade corn (and other ag commodities) and hadn't followed it very closely the past few years (focused more on currencies and such), so I tended to remember the price of a bushel being in the vicinity of $2.5-3.35 and the margin being under $500. Now the price is around $5-6+/bu and the margins over $1000. Man, the things that happen when you ain't looking....

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