It’s the economics of supply and demand: A record corn crop and a lower ethanol standard make a bad combination for the nation’s corn farmers. Illinois Corn Growers Association executive director Rod Weinzierl says he hopes the federal government ignores the Environmental Protection Agency's recent recommendation to reduce the ethanol standard.
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“We have the price of corn now at or maybe even just below the price of production,” says Weinzierl. “Farmers, when they make money, they buy pickups and cars and other things for their family, just like other families, but they also buy green John Deere equipment and red Case-IH equipment and yellow Caterpillar equipment.”
The USDA says 2013 U.S. corn production was almost 14 billion bushels.