causes CORN USED FOR ETHANOL PRODUCTION. 1984-2009 Million Bushels 8 8 8 药B3885SB吕吕吕58 Source USDA, ERS Feed Outlook, 1/09 Marketing year ending 8/31/10causes ❖ Unbalanced supply-demand -----low production -----increasing consumption (Biofuel) http://image.guardian.co.uk/sys-files/Environment/documents/2008/07/10/Biofuels.PDF ❖ Increasing oil price ❖ US dollar depreciation ❖ Low grain stocks ❖ Speculative activities