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Macquarie Says Corn At $8 Needed To Ration Demand For Ethanol

Corn prices would need to trade at $7 to $8 a bushel for most of the 2012-13 marketing year to cut demand from ethanol producers, Macquarie Group Ltd. said today in an e-mailed report.

Corn may become “increasingly correlated to oil price movements,” as ethanol producers ration demand, the bank said.

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