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USDA projects $3.45-$3.95 corn for 2010; $8.70-$10.20 soybeans
In Washington, the USDA released its key Supply and Demand Report, with news that corn usage for ethanol production rose 16 percent for November and December compared to the same period for 2008, on higher prices for ethanol and distillers grains.
Overall, USDA analysts projected that the marketing price for corn will be in the $3.45-$3.95 range for the 2010 marketing year. Soybean price ranges were placed at the $8.70 to $10.20 price per bushel, well over the break-even point for unsubsidized biodiesel.
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