I'd heard the other day people just simpler weren't driving more even with the lower prices; but that was regular news and I don't think they really research much any more on regular news, so you could be right.
Using more fuel in the USA would increase ethanol use too, as you describe.
All indications are that corn prices are on a slow slide downhill, would not bet on over $5 corn any time soon. South America looks to be having good weather, China is slowing to a good ecconomy from a hot ecconomy, Russia has all of Europe worried and conservative, USA ecconomy appears to be warming up just a tad.
Each of those would signal a lower value on corn, together its hard to overlook it all. Would take some major force, widespread drought or South America blowing up their ports, to get any real traction on corn prices in the USA.
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