Expert Says Corn Ethanol Is Changing Farm Outlook
Greater Fort Wayne Business Weekly:
When it comes to ethanol production, for the next five to seven years, its corn’s game to play.
That was the message Wells Fargo’s senior agricultural economist Dr. Michael Swanson delivered Jan. 16. Swanson spoke at the Wells Fargo customer appreciation event at the World War II Victory Museum in Auburn.
“We have energy coming into agriculture both ways — cost and revenue,” Swanson said. “It’s different than it was before. Ten years ago, energy wasn’t driving agriculture.”
Swanson believes agriculture is entering a new era.
“I think that building over 200 ethanol plants in the United States and having oil prices move to a new and higher plateau with a lot of volatility, we’re suddenly adding a lot of new value to agriculture,” Swanson said. “We’re making corn more valuable, because as a fuel it can compete with oil.”
Swanson said building new ethanol plants has created a new demand for corn…
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