Brought to you by WBIW News and Network Indiana
Last updated on Friday, August 24, 2012
(UNDATED) - The drought is expected to shrivel the US corn crop by about one-fourth. But EPA fuel rules could chew up another 40 percent.
Federal regulations require oil companies to blend more than 13-billion gallons of ethanol with gasoline. That translates to about five-billion bushels of corn.
The EPA has until October to waive that requirement.
Purdue agricultural economist Wally Tyner says there's no danger of a food shortage, but the drought is raising corn prices.
Corn has soared to more than eight dollars a bushel. Tyner says the price hike could boost supermarket prices by 3 or 4 percent.
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at firstname.lastname@example.org
© Ad-Venture Media, Inc. All Rights Reserved.
Click here to go back to previous page