Corn futures plummet as speculators exit market

[HoosierRon]

Ethanol industry looking up

Corn's cash price was $5.21 a bushel late last month in Aberdeen. In late June and early July, it surpassed $7.
...
"Then the past couple of years it just went wild."

Now it's taming down. The futures price is $2.20 a bushel less than it was three weeks ago, Schock said.
...
The wild prices probably had more to do with market speculators than supply and demand, Luitjens said. Some of that speculation money is now leaving the corn market, causing the price to drop, he said.

"Some of the big money is getting out," echoed John Ruplinger, corn and soybean merchandiser for Aberdeen-based South Dakota Wheat Growers. "There's a lot of liquidation of those profit takings. They are bailing, so we are seeing sharply lower price levels. And it looks like we've got some room to go lower."

So does this mean we are all done blaming "Big Ethanol" for starving children in Africa?

[Gallon of Fuel]

No no no, This can't be! The world wide famine was SOLELY the result of biofuels. The market does not HAVE that kind of power!

Oh wait...

[I-Love-Pontiac]

Originally Posted by HoosierRon

Ethanol industry looking up



So does this mean we are all done blaming "Big Ethanol" for starving children in Africa?

Lmao... big ethanol. I've never heard that before. Since when was ethanol big?

[HoosierRon]

Originally Posted by I-Love-Pontiac

Lmao... big ethanol. I've never heard that before. Since when was ethanol big?

Since it started America on the road to energy independence.

This year, Big Ethanol will replace 9.4 billion gallons of imported gasoline. It will employ hundreds of thousands of Americans and invest billions of dollars in American infrastructure. It will finance the rebuilding of small towns across the Heartland.

Some people view the world in such a way that all of the foregoing is bad. Therefore, they demonize the ethanol industry by calling it "Big" in order to imply that we need protection from it. Just Google "big ethanol".

[Chaz_23]

Good. Now if these *******s would just exit the oil futures market. Better yet regulate this monopoly game of "futures" to death, so all these crooks will have to find a different way to make a living without ruining the lives of 6 billion people.

[Evo69]

Well I want those rats to run away like the RATS they are. And "big ethanol" lol, thats a real joke right there... like they are running scared now eh.

[Firebird00]

Originally Posted by HoosierRon

Ethanol industry looking up



So does this mean we are all done blaming "Big Ethanol" for starving children in Africa?

No, they'll just come up with some kind of other idiotic reason why ethanol is bad and evil. I love how the US starts taking steps to move away from fossil fuels (which is what the leftys want correct?) then they whine about we're using up all the corn and starving people 10,000 miles away (cue the tear down the cheek) who keep having 5 kids despite their economic situation. Then we start working on batteries for cars, then its all bad and wrong because those darn nasty batteries will pollute the soil or something. If we were still in horse drawn buggies we'd be animal abusers. If we walked every place we wanted to go we'd still be *******s because we'd be walking on grass or disturbing dirts right to be dirt. Basically we're damned if we do and we're damned if we don't.

You can't please an environmentalist. If everything was pristine, they'd have no reason to exist thus they will always create some wild scheme just to justify their existence as a group. And gullible Americans will bite it hook, line, and sinker.

[87aero]

Yep, they've taken our money now. Time to run and spend it all.

[steinravnik]

About damn time. I seriously hope a bunch of them lost their shirts on this one.

I don't know about you but I'm sick and tired of speculators ruining every market they touch-- dot coms, housing, oil, corn, etc. This is one "free market" we can do without.

[TORRED1]

Wait I thought that high corn prices were due to ethanol using it all up, Ahhhhh im sooooo confused, ........................................not.

[the_smurf2008]

Originally Posted by Chaz_23

Good. Now if these *******s would just exit the oil futures market. Better yet regulate this monopoly game of "futures" to death, so all these crooks will have to find a different way to make a living without ruining the lives of 6 billion people.

nice reply

[AndrewGS]

Originally Posted by Firebird00

No, they'll just come up with some kind of other idiotic reason why ethanol is bad and evil. I love how the US starts taking steps to move away from fossil fuels (which is what the leftys want correct?) then they whine about we're using up all the corn and starving people 10,000 miles away (cue the tear down the cheek) who keep having 5 kids despite their economic situation. Then we start working on batteries for cars, then its all bad and wrong because those darn nasty batteries will pollute the soil or something. If we were still in horse drawn buggies we'd be animal abusers. If we walked every place we wanted to go we'd still be *******s because we'd be walking on grass or disturbing dirts right to be dirt. Basically we're damned if we do and we're damned if we don't.

You can't please an environmentalist. If everything was pristine, they'd have no reason to exist thus they will always create some wild scheme just to justify their existence as a group. And gullible Americans will bite it hook, line, and sinker.

Originally Posted by steinravnik

About damn time. I seriously hope a bunch of them lost their shirts on this one.

I don't know about you but I'm sick and tired of speculators ruining every market they touch-- dot coms, housing, oil, corn, etc. This is one "free market" we can do without.

QFT

All of the "get rich quick" traders are ruining the market. Instead of investing in the future it's all about making enough ASAP to buy that boat or BMW.

[mbukukanyau]

Originally Posted by HoosierRon

Ethanol industry looking up



So does this mean we are all done blaming "Big Ethanol" for starving children in Africa?

African children starve becouse of careless african parents.

Now, I think this is about to happen in all commodities. Prices will come tumbling.

[redimpss5]

Well...Since this was the worst thing ever invented, how can you wimper about people leaving? Good god this is so good this is what happened!!

[CaptainDan]

How long till the price of E85 comes down? I'm hoping for at least a price differential (E85 to E0) of at least 70 cents. (it's universally 50 cents different here now) That's about the break even point for actually saving money by using E85. Once we pass that line, everybody will want it.

If they'd start making high performance (premium fuel) cars into flex fuelers, we'd already BE there, since premium is 20 cents more. (E85 fuel IS premium)