The U.S. Department of Agriculture estimated that in the year to August 31 ethanol producers will have consumed 5.05 billion bushels of corn, or more than 40% of last year’s harvest. Animal feed and residual demand accounted for 5 billion bushels."
MP: As the chart above illustrates, this also "underscores how a government-supported biofuels industry has contributed to surging, record-high corn prices."
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