Why would the US go to ethanol? Dependency on oil. OIl will continue to stay high relative to its past price history.
You can argue all you want about the relative inefficiency of corn-based ethanol versus sugar or cellulose, but the fact remains the U.S. has made its choice. According to The New York Times, 'Despite continuing doubts about whether the fuel provides a genuine energy saving, at least 39 new ethanol plants are
expected to be completed over the next 9-12 months, projects that will push
the United States past Brazil as the world's largest ethanol producer. (continued)

"'The new plants will add 1.4 billion gallons a year, a 30% increase over
current production of 4.6 billion gallons, according to Dan Basse, president
of AgResources, an economic forecasting firm in Chicago. By 2008,
analysts predict, ethanol output could reach 8 billion gallons a year…'

"9-12 months from now, ethanol plants are going to need feedstock. That
feedstock will most likely be corn. Demand for the yellow grain should
skyrocket. The trade below is designed to profit from a rise in price due to
increased ethanol demand."
ADM is the largest player in this market. Buy on dips for a long term investment.