Chicago-Demand for ethanol as an alternative energy source has been a driving force behind the explosive volume growth in the corn futures market, said David Lehman, chief economist and managing director at the Chicago Board of Trade. About 15% of the open interest in the corn futures contract, or 1.6 billion bushels, for the 2005-2006 growing season was earmarked for the ethanol industry, Lehman said at a Futures Industry Association conference in Chicago. For the 2006-2007 growing season, Lehman expects the ethanol industry to account for 2.2 billion bushels of corn consumption.
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