date:Aug 03, 2012
ctored in, 43 percent of the corn supply is available for animal feed. Only 28 percent is used for ethanol.
Grassley went on to say that corn farmers historically have been paid roughly $2 per bushel for corn. Corn farmers were able to stay in business because of government subsidies. Grassley said producers like Smithfield were able to buy corn below the cost of production and let the federal government subsidize their business by guaranteeing a cheap supply of corn.
In the view of corporat