Rising U.S. corn prices in the face of a Midwest drought have forced Valero Energy (VLO) to shut...

|About: Valero Energy Corporation (VLO)|By:, SA News Editor

Rising U.S. corn prices in the face of a Midwest drought have forced Valero Energy (VLO) to shut two of its 10 ethanol plants, each with the capacity to produce 120M gallons of ethanol per year. Rabobank analysts predict corn prices could rise another 25% by year's end on lower yields due to the weather, pushing prices near the all-time high of $7.99/bushel.