Fertilizer maker CF Industries (CF.N) expects U.S. corn prices to range from $3.50 to $4.00 a bushel for the long term, Chairman and Chief Executive Stephen Wilson said on Tuesday at the Reuters Food and Agriculture Summit in Chicago.
“We know it is a commodity,” Wilson said. “We know it will be lower than that at times, and will be higher than that at times, but it seems like we have settled into a range where it is high enough to provide incentive to farmers to plant, and it is low enough to make ethanol producers at least cash-positive.”
Corn prices have fluctuated wildly during the past few years amid growth in the ethanol industry and concerns about crop size due to variable growing conditions around the United States.
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