USA - Subcommittee reviews state of the farm economy

The House Agriculture Subcommittee on General Farm Commodities and Risk Management held a hearing April 1 to review the state of the farm economy. Because of the demand for alternative energy sources, corn continues to be sold at higher prices. It is projected that 4.1 billion bushels of corn will be used in ethanol production and will account for approximately 33 percent of expected corn use in 2009/2010. However the demand for ethanol has affected the prices of other commodities competing for farm land, initiating negative economic effects on almost all agricultural products.