We’re seeing corn prices react to weather, and that’s certainly nothing new. I am watching these markets and the weather closely and I understand the worries they raise with livestock, poultry and some other producers. If higher prices are from farmers losing crops, that is a concern.
We have to be careful not to let shorter-term weather and markets stop us from developing longer term opportunities in biofuels. It is good for farmers to receive more money for their crops, and for rural communities benefiting from both farm income and biorefineries. This is also good for America by beginning to reduce dependence on foreign oil.
In five to ten years, cellulosic biofuels will lead the expansion of our domestic renewable fuels production.