Ethanol “Changing the way grain is being marketed”
USDA’s number two official says ethanol production is growing so fast now it is changing the dynamics of grain marketing in this country. U.S. Deputy Secretary of Agriculture Chuck Conner says at this point, “we are going to have to go back and re-evaluate our own methods of calculating posted county prices and the determination of local prices because ethanol plants have changed that dynamic substantially.”
Conner points out that ethanol production is also helping the economies of rural areas, with 88 plants currently producing ethanol and another 15 under construction. “Virtually all of these plants are farmer-owned plants. When they are completed these facilities will have about five billion gallons of production capacity. Nationwide, ethanol production capacity, we believe creates just about 150,000 jobs.”
Conner made his comments during a visit to Arkansas last week for a Farm Bill listening session. You can hear his comments about ethanol here.
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