Posted by paul on June 13, 2008 at 21:25:47 from (66.44.132.59):
In Reply to: Re: Sorry I lied? posted by jlmtractor on June 13, 2008 at 17:24:37:
I think you need to learn a little more about farm ecconomics.
Insurance is not great. It is a last ditch effort to keep from going under. Sorta like saying it doesn't matter if you get fired, there are lots of jobs avaialable & there are minimum wage laws so you will be just fine.....
Quite the slap in the face you just gave to IaGary...... I'm sure you didn't mean it, but that would sure hurt people's feelings!
Ethanol is consuming 10-11% of our corn crop. (It uses 20%, but quite a bit of that is returned to livestock feed as distiller's dried grains - high-protien feed, so it is not 'used' for ethanol....)
We grow about 30% more corn than we need in the USA. Most of the time, it is not in much demand around the world, so we about give it away for free......
Just so happens out USA$ has collapsed, at the same time several Asian countries have a huge supply of money - their ecconomy is good & their currency is worth a lot these days - & are willing to pay for better feed & food.
So, they are buying up our cheap grain - to them our grain looks cheap, because of the currency exchange rates.
Ethanol doesn't have too much to do with grain prices. I know it is a popular 'media' target, but in reality the facts don't support that.
World demand & world currency exchange rates and strikes in Argentina because the new president down there is stoopid has alot more to do with grain prices.
$10 corn & $20 beans is a train wreck all by itself, we all will have problems, farmers most of all.
Saying insurance is great and blaming ethanol for grain prices is just plain messed up.
I'm sure you didn't mean anything by it, just repeating what you hear on the news.
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