Enough corn in U.S. for food and ethanol, for now

Reuters
Fri May 9, 2008 10:55pm BST
By Sam Nelson - Analysis

CHICAGO (Reuters) - U.S. government data on Friday showed there is sufficient corn for the United States to supply itself with food and ethanol through next year, but the outlook hinges on cuts in exports and less of the grain being used as feed.

It is also hugely dependent on good weather in America's corn country, always a risky bet.

"This morning's crop report is an ominous sign that we are entering dangerous and uncharted waters for food prices," said Scott Faber, vice president of federal affairs for the U.S. Grocery Manufacturers Association, a trade group.

Read the full story