Ag Secretary: "NO CORN FOR YOU!"

[Mr. H.]

Just to add corn fuel to the fire:

US corn reserves expected to fall to 15-year low - Yahoo! News

ST. LOUIS – Rising demand for corn from ethanol producers is pushing U.S. reserves to the lowest point in 15 years, a trend that could lead to higher grain and food prices this year.

The Agriculture Department on Friday left its estimate for corn reserves unchanged from the previous month. The reserves are projected to fall to 675 million bushels in late August, when the harvest begins, or roughly 5 percent of all corn consumed in the United States. That would be the lowest surplus level since 1996.

The limited supply is chiefly because of increasing demand from ethanol makers, which rose 1 percent to 5 billion bushels. That's about 40 percent of the total crop.

 

[Mr. H.]

So was I right Mr. H.? Aren't the oil companies the ones getting the "Ethanol Subsidy" money & not the ethanol plants or farmers?

Oops sorry. Haven't checked that one out yet.

 

[percysunshine]

Ethanol subsidies go to whomever donates the most money to the Democrat party.

 

[boedicca]

Food Shortages and Global Instability are linked. This policy of burning food for fuel is insane.

For those who think there's a real world beyond their video-game trading terminals and bubble-induced "Fed's got my back" commodities speculations comes yet another instance of what will be a long chain reaction of riots and supply disruptions. At this stage, you could probably just spin the globe and point. In the Ivory Coast, violence has erupted and continues to escalate. These disruptions are cumulative. In Ivory Coast's case, disruptions include rubber, cocoa and oil.

Food Prices and Global Hunger Equal Riots, Civil Wars and Revolution - Seeking Alpha

 

[KissMy]

You can thank the ever weakening US Dollar for sending all our Corn, DDGs & Ethanol to foreign countries.

Ethanol Exports Continue to Surge; Anti-Dumping Investigation Reduces DDGS Exports to China

The new year began with a bang for U.S. ethanol exports, according to government data released today. Ethanol shipments (consisting of both denatured and undenatured, non-beverage, ethanol) totaled 57.2 million gallons in January, marking the second highest monthly total on record. However, the January total was down 20% from the all-time record of 71.9 million gallons. established in December 2010. These exports are not eligible for the Volumetric Ethanol Excise Tax Credit (VEETC), also called the blender’s credit.

Of the total, 45.4 million gallons were denatured. Canada continued to be the top market for denatured ethanol exports, receiving 19.4 million gallons in January. The United Arab Emirates, the Netherlands, Finland, and the United Kingdom, respectively, were other top destinations for denatured product in January. Together, the top five importers received 98% of total U.S. denatured ethanol shipments in January.

The U.S. exported 11.8 million gallons of undenatured ethanol in January, with about half of that total going to Nigeria. The Netherlands and Mexico were the second- and third-leading importers in January. Together, the three countries received 97% of total undenatured ethanol exports in January.

At 714,000 metric tons, January exports of distillers dried grains with solubles (DDGS) were virtually identical to December 2010 levels (713,600 metric tons). Exports to China—the leading export market in 2010—fell by 30% in January, likely as the result of China’s DDGS anti-dumping investigation. January exports to China totaled 129,000 metric tons, down from 183,000 metric tons in December 2010. However, the drop in exports to China was offset by a surge in exports to Mexico. DDGS exports to Mexico jumped from 130,000 metric tons in December to 229,000 metric tons in January, a 76% increase.

Following Mexico and China, Canada was the third-leading market for DDGS exports in January, receiving 87,000 metric tons.

Another large driver of food prices are the many millions of 2012 doomers stocking up enormous stockpiles of food. There are even large corporations storing food for members. Survival cities have been built & are being stocked full of food. 2012 fear is a very big & booming world wide business.

 

[Mr. H.]

I'm shocked to learn that U.S. ethanol is being exported.

 

[zzzz]

Strong use both domestically and worldwide keeps feed grain prices at historically high levels, but down from record highs attained in 2007/08. Expansion in the U.S. ethanol industry is projected to continue, although the pace is assumed to slow from the rapid gains of the past several years. The continued presence of ethanol demand in the corn sector, in combination with other long-term factors, holds prices for corn and many other crops well above their historical levels. Use of corn for corn sweeteners is expected to grow at the half the rate of population increase. Use of corn to produce ethanol for fuel will continue to climb. Feed and residual use will also expand over the period as livestock and poultry production continues to increase in the long term. As ethanol production expands, livestock producers will feed more distillers' grains and other ethanol co-products to livestock, which will limit growth in corn feed demand.

http://www.ers.usda.gov/briefing/corn/2010baseline.htm

 

[KissMy]

The chart measuring the DDGS feed in bushels is misleading. DDGS feed may only be 1/3rd the weight of corn, but it still has 100% of the protein & all nutrients except the starch that was converted to ethanol. When animals eat straight corn they turn the starch to methane gas & far or burp it out into the atmosphere. Methane gas is 15 times more potent of a greenhouse gas than carbon dioxide (CO2).

 

[Morell]

Burning food is one of those events in the history of the universe which qualifies as a 'bad idea'.

yes, you are right.

 

[MaggieMae]

Ethanol subsidies go to whomever donates the most money to the Democrat party.

Ya think?

Agribusiness | OpenSecrets

 

[KissMy]

Ethanol subsidies go to whomever donates the most money to the Democrat party.

Ya think?

Agribusiness | OpenSecrets

None of the companies in your list gets Ethanol Subsidies!

The "Ethanol Subsidy" is really a "Tax Break" for Oil Companies. It is called Volumetric Ethanol Excise Tax Credit (VEETC) which is 45-cent per gallon of ethanol tax credit for oil companies who sell it. That equals 4.5 cent tax break for every gallon of E10 gas the oil companies sell. That makes your gas 4.5 cents per gallon cheaper at the pump. That is 1/3rd of the 12 cents per gallon you pay just for the convenience of using your credit card.

Big AG, Farmers & Ethanol Companies get Nothing. As a matter of fact there are no "Ethanol Subsidies" or "Tax Breaks" for Ethanol Exports. We are now exporting about 864 million gallons of Ethanol a year to Canada, United Arab Emirates, the Netherlands, Finland, the United Kingdom & Brazil.

 

[Mr. H.]

Ethanol subsidies go to whomever donates the most money to the Democrat party.

Ya think?

Agribusiness | OpenSecrets

None of the companies in your list gets Ethanol Subsidies!

The "Ethanol Subsidy" is really a "Tax Break" for Oil Companies. It is called Volumetric Ethanol Excise Tax Credit (VEETC) which is 45-cent per gallon of ethanol tax credit for oil companies who sell it. That equals 4.5 cent tax break for every gallon of E10 gas the oil companies sell. That is 1/3rd of the 12 cents per gallon you pay just for the convenience of using your credit card.

Big AG, Farmers & Ethanol Companies get Nothing. As a matter of fact there are no "Ethanol Subsidies" or "Tax Breaks" for Ethanol Exports. We are now exporting about 864 million gallons of Ethanol a year to Canada, United Arab Emirates, the Netherlands, Finland, the United Kingdom & Brazil.

I don't recall the export of ethanol being a component of its initial program.

If the idea was sold as a means of reducing oil imports, why do you suppose we are exporting ethanol?

 

[KissMy]

Ya think?

Agribusiness | OpenSecrets

None of the companies in your list gets Ethanol Subsidies!

The "Ethanol Subsidy" is really a "Tax Break" for Oil Companies. It is called Volumetric Ethanol Excise Tax Credit (VEETC) which is 45-cent per gallon of ethanol tax credit for oil companies who sell it. That equals 4.5 cent tax break for every gallon of E10 gas the oil companies sell. That is 1/3rd of the 12 cents per gallon you pay just for the convenience of using your credit card.

Big AG, Farmers & Ethanol Companies get Nothing. As a matter of fact there are no "Ethanol Subsidies" or "Tax Breaks" for Ethanol Exports. We are now exporting about 864 million gallons of Ethanol a year to Canada, United Arab Emirates, the Netherlands, Finland, the United Kingdom & Brazil.

I don't recall the export of ethanol being a component of its initial program.

If the idea was sold as a means of reducing oil imports, why do you suppose we are exporting ethanol?

Bad press prevents US consumers from using all the ethanol we produce in this country so ethanol companies found more markets around the world. These other countries likely found that blending ethanol reduced emissions preventing them from having to mix the ground water polluting MTBE into their gas to reduce emissions. These countries also figured the oil tankers are coming back empty so filling them with Ethanol would make the Ethanol shipping cost very very small.

I think it would be so much better if we could get people here at home to use more. Preferably people in the Midwest should use as much as possible to reduce shipping, but media's brainwashing is very powerful.

 

[MaggieMae]

Ethanol subsidies go to whomever donates the most money to the Democrat party.

Ya think?

Agribusiness | OpenSecrets

None of the companies in your list gets Ethanol Subsidies!

The "Ethanol Subsidy" is really a "Tax Break" for Oil Companies. It is called Volumetric Ethanol Excise Tax Credit (VEETC) which is 45-cent per gallon of ethanol tax credit for oil companies who sell it. That equals 4.5 cent tax break for every gallon of E10 gas the oil companies sell. That makes your gas 4.5 cents per gallon cheaper at the pump. That is 1/3rd of the 12 cents per gallon you pay just for the convenience of using your credit card.

Big AG, Farmers & Ethanol Companies get Nothing. As a matter of fact there are no "Ethanol Subsidies" or "Tax Breaks" for Ethanol Exports. We are now exporting about 864 million gallons of Ethanol a year to Canada, United Arab Emirates, the Netherlands, Finland, the United Kingdom & Brazil.

Yikes. Even worse:

Oil & Gas | OpenSecrets

 

[KissMy]

Ya think?

Agribusiness | OpenSecrets

None of the companies in your list gets Ethanol Subsidies!

The "Ethanol Subsidy" is really a "Tax Break" for Oil Companies. It is called Volumetric Ethanol Excise Tax Credit (VEETC) which is 45-cent per gallon of ethanol tax credit for oil companies who sell it. That equals 4.5 cent tax break for every gallon of E10 gas the oil companies sell. That makes your gas 4.5 cents per gallon cheaper at the pump. That is 1/3rd of the 12 cents per gallon you pay just for the convenience of using your credit card.

Big AG, Farmers & Ethanol Companies get Nothing. As a matter of fact there are no "Ethanol Subsidies" or "Tax Breaks" for Ethanol Exports. We are now exporting about 864 million gallons of Ethanol a year to Canada, United Arab Emirates, the Netherlands, Finland, the United Kingdom & Brazil.

Yikes. Even worse:

Oil & Gas | OpenSecrets

It is horrible isn't it - 4.5 cents a gallon tax deduction to make ethanol available at your favorite local gas station. But paying 12 cents a gallon credit card fee to the mega rich banks & credit card companies so you don't have to carry cash is just great! - Thanks, Got It!