No matter how you look at it, if indeed all the optimism about biofuels and ethanol remains (with public support for biofuels subsidies steady, crude oil at current levels, and current demand unwavering) then it may be likely to lead to an AVERAGE cash price for corn over the next 2-3 years at $4. This creates some interesting situations for all other commodities, as an equivalent price relationship for soybeans might be $9 cash beans, $6 cash wheat, and equivalent price increases of 65-85% in almost all other commodities grown for grain. There is almost no other long term solution given a $4 cash price for corn. So while corn prices seem almost too good to be true now, it might also actually mean that current commodity prices for other grains might very well be well undervalued!
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