The price for  ethanol on 3/16/2012 was $2.33 per gallon.  The price of a bushel of corn was $6.73.  A bushel of corn produces 2.75 gallons of ethanol.  Both prices quoted where in Chicago.

($6.73/bushel)  /  (2.75 gallons / bushel)  =  $2.45 cost of corn per gallon of ethanol

The cost of corn per gallon of ethanol is more than the price of ethanol.

 

Subsidies per gallon of corn ethanol in 2011 were $0.46.

Subsidies per gallon of cellulosic ethanol is up to $1.01.

http://www.businessweek.com/news/2012-03-16/ethanol-rises-on-speculation-that-higher-costs-will-curb-output

We produce more ethanol than we use.  Due to the 10% maximum allowable ethanol blending with gasoline we are now leading exporter of ethanol.

 

United States Leads World in Exports of Ethanol

http://www.marketwatch.com/story/united-states-leads-world-in-exports-of-ethanol-2012-05-01