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| This presentation has several flaws: 1. he bases his ratio on corn futures & ethanol plants enjoy a very attractive cash basis at this time, and have since harvest; 2. the ethanol board is inverted, implying much improved demand; 3. Well managed ethanol plants, at current prices, are not operating at a loss. I too, question the last 1/2 of this year's usage rate of ethanol, but based upon lower crude oil prices....so far, I am wrong about the crude oil--There is another item in regard to his regression analysis.
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wells fargo on ag markets
