Corn price might continue soaring on ethanol boom

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More than three-quarters of commodity traders, farm advisers and grain buyers surveyed by Bloomberg late last week advised buying corn, because the price is likely to continue rising above the 10-year high of $3.91 per bushel reached last week on the Chicago Board of Trade.

The reason: Total U.S. capacity at plants that turn corn into ethanol is projected to double in the next two years, to 11.3 billion gallons a year.

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