Bloomberg News

Macquarie Says Corn at $8 Needed to Ration Demand for Ethanol

July 23, 2012

Corn prices would need to trade at $7 to $8 a bushel for most of the 2012-13 marketing year to cut demand from ethanol producers, Macquarie Group Ltd. said today in an e-mailed report.

Corn may become “increasingly correlated to oil price movements,” as ethanol producers ration demand, the bank said.

To contact the reporter on this story: Whitney McFerron in London at wmcferron1@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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