Just to add another element to that, though I know it's a little bit beyond your question, the selling price for ethanol right now is at record highs. That's because it doesn't just track the price of inputs; the market is also affected by what the price for gasoline is. When you have refining shortages, as we experienced last year as a result of hurricanes in the gulf, there's pressure on the refining system even above what is naturally there. Ethanol can have a value that is very heavily affected by that.
Also, North America is being very heavily affected by bans of MTBE, which is a fuel additive. There are about nine billion gallons of it in the U.S. right now, and it's being banned, basically, state by state. That's creating some demand for ethanol, because ethanol is a sort of replacement product as a gasoline additive that can raise the oxygenated level of fuel.
So you have a bunch of things going on that are driving the price of ethanol to record highs in this market, which is one of the reasons why so many plants are being built. I think one thing that is important to remember is that this market will not always be as good as it is today, not just because of potential changes in agricultural commodity prices, but because ethanol prices themselves are unlikely to maintain the high levels they're at today. You could make a business case for making ethanol in a bucket right now and it would be profitable, because the market price is so outrageously high compared with what it has historically been.
Just to give you an example from the last energy crisis in the U.S., in the mid-eighties, in 1985 there were 163 ethanol plants operating in the United States, and by 1990 there were 21; 140 ethanol plants had gone bankrupt when energy prices went down. It's important to take a longer view at not just the agricultural market—commodity prices—but also at the energy market.