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Friday, June 13, 2008

CBS' Take on Higher Corn Prices

CBS isn't known for accurate reporting, so it shouldn't be a surprise that their take on corn prices is off the mark. While CBS correctly reports that the corn crop will be down 10% this year, they imply that this is due entirely to weather and have conveniently forgotten about the government ethanol mandates, which have diverted much of the food corn crop to the fuel corn crop.