Oil Seen as Main Driver of Ethanol and Grain Prices in UN Study
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Oil prices were found to be the main drivers of ethanol and grain prices in a statistical analysis by the United Nations’ Food & Agriculture Organization.
Ethanol moves in line with oil in the long term, while the relationship is non-linear in the short term, based on a study of prices from January 1980 through to April 2012, FAO economists Natalia Merkusheva and George Rapsomanikis wrote in an online report via the Agricultural Market Information System.