Published:
Views: 1272

Corn Profits Sky High

Corn revenues could easily surpass $40 billion in the United States this year as farmers rush to take advantage of rising interest in ethanol,  according to a recent report issued by the U.S. Department of Agriculture. With prices reaching upward

Corn revenues could easily surpass $40 billion in the United States this year as farmers rush to take advantage of rising interest in ethanol,  according to a recent report issued by the U.S. Department of Agriculture.

With prices reaching upward of $3.50 a bushel, farmers intend to plant roughly 90.5 million acres of corn in 2007. That’s 12.1 million acres more than in 2006 and the largest amount in more than 60 years. Iowa remains the top corn state with 13.9 million acres-a more than 10 percent increase over last year.

Ethanol production in the United States has risen dramatically in recent years. According to the St. Louisbased National Corn Growers  Association, the ethanol industry consumed more than 1.8 billion bushels of corn in 2006, producing 4.9 billion gallons of renewable fuel.

Tagged with: , , , ,
Posted in Agriculture, Federal Policy, Great Lakes, Great Plains, Midwest, South, Southwest, West

EMAIL SIGNUP

Please sign me up to receive breaking news and updates from the Land Report!

Latest Tweets

News By Region

The Land Report | 2017 America's Best Brokerages
The Land Report is proudly partnered with:
Land Leader
Hall and Hall
Bates Land Consortium
Mossy Oak Properties
United Country Real Estate
Live Water Properties
Fay Ranches Inc.
Mirr Ranch Group
californiaoutdoorproperties.com
Whitetail Properties
Western Ranches
TerraStone Land Company
Hayden Outdoors Real Estate
LandAndWildlife.com
Pacific West Great Plains Great Lakes Midwest Southwest South Northeast Pacific West Great Plains Great Lakes Midwest Southwest South Northeast