May 12, 2008

US ethanol makers to use one-third of 2008-09 corn crop

US ethanol makers are expected to use 4 billion bushels, or one-third of this year's projected US corn crop to produce fuel during 2008-09 period, the USDA said Friday.

USDA also said that around 3.2 billion pounds of soy oil would be used for biodiesel.

The authority further said that the slowing pace of plant construction and expansion, and lower capacity utilization are expected to dampen growth in US ethanol corn use.

Around 3 billion bushels or 23 percent of the record 2007 corn crop will be converted to ethanol.