Biofuel Expansion, Fertilizer Use, and GHG Emissions: Unintended Consequences of Mitigation Policies

Table 2

Baseline prices for major commodities.

	2011	Long run*
	(US dollars per metric ton)
Wheat FOB Gulf	270	274
Corn FOB Gulf	183	200
Soybean CIF Rotterdam	442	475
Beef Nebraska Direct	2,274	2,530
Barrow and Gilt, National	1,226	1,463
Broiler U.S. 12-City	1,924	2,256
	(US dollars per gallon)
Anhydrous ethanol, Brazil	1.63	2.60
Ethanol FOB Omaha	1.97	2.04
Biodiesel Central Europe FOB	4.77	5.81
US biodiesel plant	4.22	4.84

∗Long-run equilibrium is imposed in 2023.