Churubusco farmer Brian Salomon stands in about 45,000 bushels of corn stored in a shed on his farm.
By Jenni Glenn, The Journal Gazette
With ethanol plants gobbling up corn and paying higher rates for it, farmers should be reaping a windfall.
High grain prices help farmers earn a profit, but they also remove the price floors created by government subsidies, said Corinne Alexander, Purdue University professor of agricultural economics. Without the security of the subsidies, farmers must depend on their own knowledge of the unpredictable futures market to lock in the best price for their grain.
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