Ethanol's appeal diminishing

By Brian Wallheimer, Journal & Courier

bwallheimer@journalandcourier.com

Last year Wally Tyner, a professor of agricultural economics at Purdue University, said he never thought he would see corn reach $4 per bushel.

Last year it did just that. And this year, it's on pace to break the $8-per-bushel mark.

With farmers expecting lower yields in their corn crops because of delayed planting, wet conditions and flooding, the high prices could help keep their profits normal or even up from previous years.

But for the corn-based ethanol industry, the high prices mean the product isn't that attractive anymore.