Economic Assessment of Producing Corn and Cellulosic Ethanol Mandate on Agricultural Producers and Consumers in the United States

Table 5

Average percentage change in crop prices, fertilizer prices, and overall welfare impacts from (a) conservation reserve program land in grasslands (million acres) returning to crop productionand (b) higher switchgrass yields but no conservation reserve program land returning to crop production.

	Crop prices					Fertilizer prices			Welfare impacts ($ billion)
16 + 16; no CRP	Corn; /bu	Soybean; /bu	Wheat; /bu	Cotton; /lb	Hay; /ton	N; /ton	P; /ton	K; /ton	Net farm income	Consumer surplus	Biofuel subsidies	Total surplus	Trade balance
	4.7	11.9	7.3	0.9	137.2	316.8	287.8	296.5	108.5	116.1	0.0	224.6	43.7
CRP	Percentage change from 16 + 16; no-CRP scenario
7.0	−3.2%	−1.8%	−4.8%	−2.5%	−2.3%	1.2%	1.3%	0.9%	−2.7%	4.2%	—	1.0%	0.5%
14.0	−6.4%	−3.6%	−9.2%	−4.7%	−4.5%	2.5%	2.7%	1.8%	−5.3%	9.4%	—	2.5%	1.1%
28.0	−12.8%	−6.8%	−17.0%	−8.7%	−8.9%	5.0%	5.5%	3.6%	−10.4%	15.4%	—	3.2%	2.5%
SG yield (tons/ac)	Percentage change from 16 + 16; no−CRP scenario
5.0	−10.6%	−6.9%	−12.1%	−8.6%	−6.8%	4.3%	4.8%	3.4%	−10.4%	11.1%	—	0.8%	2.1%
7.0	−14.7%	−8.9%	−15.6%	−11.1%	−9.1%	5.7%	6.7%	4.5%	−13.6%	15.4%	—	1.5%	3.0%

Estimates are compared to the 16 + 16 with no conservation reserve program land scenario results.
Crop and fertilizer prices for the scenario 16 + 16, no CRP are in $/unit and welfare impacts in billion dollars.
CRP represents CRP acreage returning to crop production, million acres.