Biodiesel and Ethanol Investing

Los Angeles Times reports that U.S. farmers planted an unexpectedly large crop of corn and soybeans this year, easing some fears of rising food costs. The U.S. Department of Agriculture said a record 77.5 million acres of soybeans were planted through June, up 1.8 million acres from last year. The unexpected boost in planting could lower commodity prices, relieving ethanol makers that have been stung by higher feed prices. Corn futures sank 29.25 cents to $3.4775 a bushel on the Chicago Board of Trade, while soybeans for July delivery advanced 11.25 cents to $12.2625 a bushel.