Wheat flour 2.3 conversion 2.3 bu. wheat or 138 lbs = 100 lbs. flour and 38 lbs wheat midds
PROTEIN COST PER LB = (PRICE TON/PROTEIN %)/2000
% OF VALUE ON MIDDS = (.2 * soymeal) + (.8 * <35.714*corn>)
One bushel corn (56 lbs) = approx 2.65 gal of ethanol and 18 lbs of distillers dried grains
CRUSH = (price of ethanol * 2.6) - price of corn using cbot ethanol futures
CRUSH = [(price of unleaded gas + basis diff. to ethanol) * 2.6] - price of corn using NYMEX unleaded gas futures
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