Farm Machinery Stock Spikes After State of the Union Speech

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According to MarketWatch, some agricultural machinery supplier stocks "spiked" after President Bush's recently expressed support for biofuel production, ethanol in particular. Per the report: shares of Deere & Co. rose about 5%; Agco Corp. almost 6%; and, Gehl Corp. more than 3%. Also in Marketwatch, a peek behind the curtain at corollary purposes: "Higher crop prices, driven by ethanol production, would also mean lower direct farm subsidies, supporting the U.S. position in World Trade Organization talks". Looks like the market could be assuming that corn will be the ethanol feedstock of choice, which would mean pressure on farmers to plant corn on land with highly erodable soils, abandoning historic pasture and wildlife conservation projects to achieve the ethanol production goal. That would be distinctly Un-TreeHugger and ignoring what the President really said...'more research'. Look below for a selected list of recent TreeHugger coverage of ethanol topics. Might be a place for stock shoppers to start looking for other possibilities?

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GM Serious About Ethanol And Flex-Fuel Vehicles?
Coors To Turn Brewery Waste into Vehicle Fuel
Shitake Mushrooms make Gourmet Biofuel
Virgin To Do Aviation Ethanol?
Industrial Ecology Spreads in the US Heartland
Hybrid Grass Could Become Biomass Fuel
CO2 and The Great Ethanol Spreadsheet Mystery
Stargen Enzyme Maker Genencor Wins Award
Canada Increases Ethanol Budget
Small Town Kansas Makes Sustainability Investment
Iogen's Cellulose Ethanol - Straw-Powered Cars
Colorado Welcomes US' Largest Corn-to-Ethanol Plant
Genetically Engineered E.Coli Process to Generate Ethanol from Wood/Ag Waste by 2006.

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