Corn Prices Skyrocket with Drenching Rains and Ethanol Production - KCBD NewsChannel 11 Lubbock

6/25/08

Corn Prices Skyrocket with Drenching Rains and Ethanol Production

Flooding has saturated an estimated two million acres of corn and soybean fields in several states. Higher costs of feed and fuel prices are affecting livestock owners.

"The impact it may have on Texas - is Texas imports alot of corn from the midwest that comes in as livestock feed," said David Gibson, Corn Producers of Texas. "And of course if supply is tighter that usually drops prices up higher, and so the livestock sector may see some impact from that and in turn that spills out into increased cost."

Another reason feed is so high for livestock is ethanol production. Ethanol is made from corn and can be used as motor fuel. Tuesday, Governor Rick Perry was in Washington urging federal lawmakers to cut ethanol production requirements in half.

"Although ethanol and renewable fuel standard mandate looked like a good idea 5 years ago, its no longer a good idea. It's hurting America, it's hurting our families," said Perry. "The reasonable position from my perspective would be to say, you know what; although we did support that in the past, it's different times, it's different situations, and we do think that reducing that mandate by at least fifty percent is the right thing to do."

The Environmental Protection Agency must review the request and consult with the energy and agriculture secretaries before making a decision.

get more -- Web Enhanced
All About Ethanol
Learno more about ethanol - a clean-burning, high-octane motor fuel that is produced from renewable sources.

  • Local News on KCBD.comNewsMore>>

  • Grand jury indicts Missouri governor who admitted affair

    Grand jury indicts Missouri governor who admitted affair

    Thursday, February 22 2018 5:35 PM EST2018-02-22 22:35:21 GMT
    Thursday, February 22 2018 9:54 PM EST2018-02-23 02:54:32 GMT
    A St. Louis grand jury indicted Missouri Gov. Eric Greitens on a felony invasion of privacy charge related to the Republican's affair with a woman in 2015. (AP Photo/Jeff Roberson, File)A St. Louis grand jury indicted Missouri Gov. Eric Greitens on a felony invasion of privacy charge related to the Republican's affair with a woman in 2015. (AP Photo/Jeff Roberson, File)

    A St. Louis grand jury has indicted Missouri Gov. Eric Greitens on a felony invasion of privacy charge related to the Republican's affair with a woman in 2015.

    A St. Louis grand jury has indicted Missouri Gov. Eric Greitens on a felony invasion of privacy charge related to the Republican's affair with a woman in 2015.

  • US women beat Canada for gold in a 3-2 shootout thriller

    US women beat Canada for gold in a 3-2 shootout thriller

    Thursday, February 22 2018 2:34 AM EST2018-02-22 07:34:20 GMT
    Thursday, February 22 2018 9:45 PM EST2018-02-23 02:45:37 GMT
    (AP Photo/Matt Slocum). United States celebrates winning gold after the women's gold medal hockey game against Canada at the 2018 Winter Olympics in Gangneung, South Korea, Thursday, Feb. 22, 2018.(AP Photo/Matt Slocum). United States celebrates winning gold after the women's gold medal hockey game against Canada at the 2018 Winter Olympics in Gangneung, South Korea, Thursday, Feb. 22, 2018.

    Twenty long years after taking gold when the sport debuted in 1998, the United States snapped Canada's streak of four straight Olympic golds with a 3-2 shootout victory.

    Twenty long years after taking gold when the sport debuted in 1998, the United States snapped Canada's streak of four straight Olympic golds with a 3-2 shootout victory.

  • Ted Cruz invokes The Simpsons to take dig at Democrats

    Ted Cruz invokes The Simpsons to take dig at Democrats

    Thursday, February 22 2018 9:40 PM EST2018-02-23 02:40:36 GMT
    Thursday, February 22 2018 9:40 PM EST2018-02-23 02:40:36 GMT
    Ted Cruz won 11 states in the 2016 Republican primary. (Source: CNN)Ted Cruz won 11 states in the 2016 Republican primary. (Source: CNN)

    Ted Cruz called said the Democratic Party was the party of Lisa Simpson at the Conservative Political Action Conference on Thursday.

    Ted Cruz called said the Democratic Party was the party of Lisa Simpson at the Conservative Political Action Conference on Thursday.

Powered by Frankly