FarmPolicy

Biofuels: Oil & Corn Prices, Environmental Concerns

Brian Baskin, writing in today’s Wall Street Journal, reported that, “Light, sweet crude for April delivery rose $2.75, or 2.6%, to $107.90 a barrel on the New York Mercantile Exchange, a settlement record. The front-month contract hit an intraday high of $108.21, marking the ninth out of the last 10 sessions in which a record was set.

“Futures have risen $20 in less than two months, largely on the weakness in the dollar, which makes commodities priced in the U.S. currency relatively cheap for buyers in other currencies.”

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Posted by Keith Good • March, 11, 2008 • 5:05 am