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Author : Karen Elizabeth Lewis
Publisher :
ISBN 13 :
Total Pages : 354 pages
Book Rating : 4.3/5 (129 download)
Download or read book The Impact of Ethanol on Corn Market Relationships and Corn Price Basis Levels written by Karen Elizabeth Lewis and published by . This book was released on 2010 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marcella M. Warner
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (27 download)
Download or read book The Impact of Ethanol Driven Corn Price on the Cow-calf Industry written by Marcella M. Warner and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: After remaining stable for several decades, corn price has recently had unprecedented price increases and volatility. United States Department of Agriculture (USDA) predicts an average corn price of $5.80 per bushel for 2008, which is 232% of its 28-year (1980-2007) average price of $2.50. The record increase in corn price was the result of increased starch-based ethanol production associated with increased energy costs, and other factors such as a declining value in the United States dollar, and increased global commodity demand. High corn prices have impacted the profitability of the livestock feeding industry. It was less clear how the record high corn prices would affect the cow-calf industry since corn is not a significant input for cow-calf enterprises. This study quantified the relationship between cow-calf profitability and corn price. Because feed costs for a cow-calf producer are among the highest variable costs for the operation, both grazing and non-grazing feed costs were estimated as a function of corn price. Models were estimated to determine if a relationship between corn price and Returns Over Variable Costs (ROVC) at the cow-calf level could be identified. Corn price from 1978-2007 explained none of the variability in grass grazing rental rate, however when the projected 2008 corn price was included in the analysis, corn price explained 10% of the variation in grass grazing rates. Year (linear time trend) and corn price from 1978-2008 explained 88% of historical grass grazing rental rate variability, 71% of alfalfa price variability, and 63% of other hay price variability in Kansas. These results suggest that the new corn market paradigm likely will increase the relationship between corn price and feed costs at the cow-calf level. Several models were evaluated using bulk diesel fuel price, feeder calf price, corn price, alfalfa price, other hay price, and grass grazing rental rate to estimate Kansas cow-calf producer ROVC. Models that included diesel fuel price, feeder calf price, grazing rent, and one of the harvested feeds (corn, alfalfa, or other hay) price explained 90-91% of the variability in ROVC. Models that included diesel fuel price, feeder calf price, and either grazing rent or corn price explained less of the variability in ROVC; using grazing rent explained 89% and using corn price explained 79%. Including grass grazing rental rate along with corn price, feeder calf price, and bulk diesel fuel price improved the model's ability to predict ROVC, explaining 91% of the variability. While cow-calf producers might use very little corn directly in their operations, this research shows that corn price is an important determinant of cow-calf production returns, and corn price can be used by producers to plan for future rising costs in order to maximize returns.
Author : Ted Monoson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (713 download)
Download or read book Implications of a Renewable Fuels Standard written by Ted Monoson and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past 10 years, ethanol production in the United States has grown exponentially. From 2000 to 2009 U.S. ethanol production increased from 1.6 billion gallons annually to 10.8 billion gallons annually. In 2010, U.S ethanol production increased by 23 percent from 2009 to 13.23 billion gallons. The increase in ethanol production was due to lawmakers reacting to skyrocketing oil prices by implementing a Renewable Fuels Standard (RFS) in 2005 and expanding the RFS in 2007. The RFS requires the use of specified amounts of biofuels, such as ethanol, through the year 2022. The creation of the RFS represented a step beyond lawmakers' usual policy of using the tax code to promote ethanol production. There is a long history of encouraging ethanol production by using the tax code, but the implementation of a biofuels mandate is new and therefore there is not a great deal of research on the effects of such a policy. This study analyzes U.S. oil, unleaded gasoline, corn and ethanol prices dating back to 1985 to determine the impact that the RFS has had on corn prices. The key question answered is whether the creation and expansion of the RFS has brought the instability of the oil market into the corn market. The prices that an ethanol plant in western Kansas paid for the grain it used to produce ethanol and the price that the plant received for the ethanol that it produced are also analyzed. The plant began operation in January 2004, so it is possible to analyze the grain and ethanol prices both before and after the implementation and expansion of the RFS. To study the impact of the RFS creation and expansion, the prices were analyzed to see if there was an increase in the correlation after the creation and expansion of the RFS. Regression analysis of the national corn prices and the prices that Western Plains Energy paid for the grain that it used to produce ethanol; and regression analysis of the national price of ethanol and the price that Western Plains Energy sold its ethanol for were also used to study the impact of the RFS. Finally, the vector autoregression (VAR) model is used to analyze the dynamic relationships between the variables in the system: corn price, oil price, ethanol price and unleaded gasoline price. The analysis of the correlation reveals that both at the national and plant level grain and oil prices track much more closely together after the creation and then expansion of the RFS. The VAR reveals that there is some relationship between corn and oil prices contemporaneously. The correlation matrix of residuals reveals that there is not a strong correlation between national corn and oil prices. The results suggest the need for greater research in this area. The creation and expansion of the RFS represented a step into uncharted territory and the consequences are still not known.
Author :
Publisher : DIANE Publishing
ISBN 13 : 1437915493
Total Pages : 26 pages
Book Rating : 4.4/5 (379 download)
Download or read book Impact of Ethanol Use on Food Prices and Greenhouse-Gas Emissions written by and published by DIANE Publishing. This book was released on 2009-09 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The production and use of ethanol in the U.S. have been steadily increasing since 2001, boosted in part by production subsidies. That growth has exerted upward pressure on the price of corn and, ultimately, on the retail price of food, affecting both individual consumers and fed. expend. on nutritional support programs. It has also raised questions about the environmental consequences of replacing gasoline with ethanol. This analysis examines the relationship between increasing production of ethanol and rising prices for food. It estimated how much of the rise in food prices between 4/07 and 4/08 was due to an increase on the production of ethanol and how much that increase in prices might raise fed. expend. on food assistance programs. Tables and graphs.
Author : Joshua S. Graff Zivin
Publisher : University of Chicago Press
ISBN 13 : 0226988031
Total Pages : 310 pages
Book Rating : 4.2/5 (269 download)
Download or read book The Intended and Unintended Effects of U.S. Agricultural and Biotechnology Policies written by Joshua S. Graff Zivin and published by University of Chicago Press. This book was released on 2012-03-15 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using economic models and empirical analysis, this volume examines a wide range of agricultural and biofuel policy issues and their effects on American agricultural and related agrarian insurance markets. Beginning with a look at the distribution of funds by insurance programs—created to support farmers but often benefiting crop processors instead—the book then examines the demand for biofuel and the effects of biofuel policies on agricultural price uncertainty. Also discussed are genetically engineered crops, which are assuming an increasingly important role in arbitrating tensions between energy production, environmental protection, and the global food supply. Other contributions discuss the major effects of genetic engineering on worldwide food markets. By addressing some of the most challenging topics at the intersection of agriculture and biotechnology, this volume informs crucial debates.
Author : Lihong Lu McPhail
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (318 download)
Download or read book Ethanol, Mandates, and Drought written by Lihong Lu McPhail and published by . This book was released on 2008 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Model results indicate an expected average marketing year price of $4.97 per bushel and a price volatility of 17.5% without the 10 billion gallon EISA mandate but with maintenance of the $0.51 per gallon tax credit. Imposition of the mandate increases the expected price by 7.1% and price volatility by 12.1%. The effects of the mandate are modest as ethanol production would average 9.5 billion gallons without the mandate because of high gasoline prices. The mandate is binding with a probability of 37.8%, which indicates that an additional tax or subsidy will be needed to ensure that the mandate is met. High corn prices caused by drought can cause the mandate to bind. Fixing 2008 corn yields at extreme drought levels increases expected corn prices to $6.59 per bushel without a mandate and to $7.99 per bushel with the EISA mandate. An average additional subsidy of $0.73 per gallon of ethanol would be needed to ensure that the mandate is met in this drought scenario.
Author : Zhige Wu
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Price Impacts of Ethanol Production in Ontario written by Zhige Wu and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marilyn C. Walchuck
Publisher :
ISBN 13 : 9781617615979
Total Pages : 0 pages
Book Rating : 4.6/5 (159 download)
Download or read book Ethanol and Corn written by Marilyn C. Walchuck and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. policy to expand the production of biofuel for domestic energy use has significant implications for agriculture and resource use. While ongoing research and development investment may radically alter the way biofuel is produced in the future, for now, corn-based ethanol continues to account for most biofuel production. As corn ethanol production increases, so does the production of corn. The effect on agricultural commodity markets has been national, but commodity production adjustments, and resulting environmental consequences, vary across regions. Changes in the crop sector have also affected the cost of feed for livestock producers. As the Nation demands more biofuel production, and markets for new biofuel feedstocks, such as crop residues emerge, the agricultural landscape will be further transformed. This book explores the changes and expanding usage of ethanol and corn biofuels.
Author : Donald I. Hertzmark
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.:/5 (31 download)
Download or read book The Agricultural Sector Impacts of Making Ethanol from Grain written by Donald I. Hertzmark and published by . This book was released on 1980 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrea L. Olson
Publisher :
ISBN 13 :
Total Pages : 166 pages
Book Rating : 4.:/5 (176 download)
Download or read book The Impact of Increased Ethanol Production on Corn Basis in South Dakota written by Andrea L. Olson and published by . This book was released on 2007 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mesbah Motamed
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Corn Area Response to Local Ethanol Markets in the United States written by Mesbah Motamed and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We measure corn and total agricultural area response to the biofuels boom in the United States from 2006 to 2010. Specifically, we use newly available micro-scale grid cell data to test whether a location's corn and total agricultural cultivation rose in response to the capacity of ethanol refineries in their vicinity. Based on these data, acreage in corn and overall agriculture not only grew in already-cultivated areas but also expanded into previously uncultivated areas. Acreage in corn and total agriculture also correlated with proximity to ethanol plants, though the relationship dampened over the time period. A formal estimation of the link between acreage and ethanol refineries, however, must account for the endogenous location decisions of ethanol plants and areas of corn supply. We present historical evidence to support the use of the US railroad network as a valid instrument for ethanol plant locations. Our estimates show that a location's neighborhood refining capacity exerts strong and significant effects on acreage planted in corn and total agricultural acreage. The largest impacts of ethanol plants were felt in locations where cultivation area was relatively low. This high-resolution evidence of ethanol impacts on local agricultural outcomes can inform researchers and policy-makers concerned with crop diversity, environmental sustainability, and rural economic development.
Author : Marco Aurelio Dos Santos Bernardes
Publisher : BoD – Books on Demand
ISBN 13 : 9533074809
Total Pages : 746 pages
Book Rating : 4.5/5 (33 download)
Download or read book Biofuel's Engineering Process Technology written by Marco Aurelio Dos Santos Bernardes and published by BoD – Books on Demand. This book was released on 2011-08-01 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aspires to be a comprehensive summary of current biofuels issues and thereby contribute to the understanding of this important topic. Readers will find themes including biofuels development efforts, their implications for the food industry, current and future biofuels crops, the successful Brazilian ethanol program, insights of the first, second, third and fourth biofuel generations, advanced biofuel production techniques, related waste treatment, emissions and environmental impacts, water consumption, produced allergens and toxins. Additionally, the biofuel policy discussion is expected to be continuing in the foreseeable future and the reading of the biofuels features dealt with in this book, are recommended for anyone interested in understanding this diverse and developing theme.
Download or read book Ethanol and Its Effect on the U.S. Corn Market written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yapo Genevier N'Guessan
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (335 download)
Download or read book Economic Impact of Ethanol Production on U.S. Livestock Sector written by Yapo Genevier N'Guessan and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The production of corn-based ethanol in the U.S. has increased from 1,630 million gallons in 2000 to 4,855 million gallons in 2006, representing a 198% growth over the period considered. This growth is favored by the availability of more efficient technologies in the production process of ethanol and is sustained by the high prices of ethanol in the market. The industry is also supported by a favorable public policy, expressed in the form of laws, mandating an increase in the use of ethanol, and also in the form of tax incentives. The tremendous increase in the use of corn for the ethanol industry is made at the expense of the livestock industry that was the traditional destination for much of the U.S. corn grain. As the ethanol industry continues to expand, concerns are raised in regard to its impact as more and more corn is diverted from the livestock sector. This study investigates the economic impact of the ethanol industry on the U.S. livestock sector. Specifically, a shipping cost model is developed to simulate the impact of the ethanol industry on the shipping cost of corn at the national and individual state levels. The dynamics for major livestock producing states are also analyzed at the crop reporting district level. Different scenarios based on assumptions on the availability of corn and the production capacities of the ethanol industry are displayed. Results from the model indicate that nationwide there is a 5 to 22% increase in the shipping cost of corn for the livestock industry due to the ethanol industry, depending on the scenario involved. At the state level, there is an increase in the transportation cost for most of the states, with shipping cost doubling in some cases. Nevertheless, some states benefit from the dynamics created by the development of ethanol plants and are experiencing a reduction in their livestock industry corn transportation cost.
Author : Daniel W. Halbach
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (319 download)
Download or read book The Economics of Ethanol Production and Its Impact on the Minnesota Farm Economy written by Daniel W. Halbach and published by . This book was released on 1986 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Won W. Koo
Publisher :
ISBN 13 :
Total Pages : 3 pages
Book Rating : 4.:/5 (55 download)
Download or read book Impacts of Corn-based Ethanol Production on Prices of Agricultural Commodities written by Won W. Koo and published by . This book was released on 2008 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: Impact of rising corn prices on the prices of wheat, soybeans, and sugar.
Author : Kevin McNew
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Measuring the Impact of Ethanol Plants on Local Grain Prices written by Kevin McNew and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A considerable number of farmer-owned ethanol plants have been built in the past few years, with many more planned. In part, farmers' investment in ethanol plants is an attempt to increase grain prices in their local market. We examined this issue by estimating the impact on local grain prices of twelve ethanol plants that opened from 2001 to 2002. We find that these new ethanol plants increased local grain prices, but the impact was not uniform around the plant. Markets downstream from a new plant, where prices tend to be higher, experienced a smaller price impact from the ethanol plant. On average across plants, corn prices increased by 12.5 cents per bushel at the plant site, and some positive price response was felt 68 miles away from the plant.
