Corn prices approached $8/bushel on Friday forcing ethanol plants to evaluate operations. Analysts forecast 2-5 billion gallons of ethanol to go off line.  More importantly food & feed  production will be hit. Soft commodities in general will likely face record prices in the coming year. Governments, especially the US, will be forced to re-evaluate the wisdom of biofuel targets based on food crops. Investment in to 2^nd generation will be ramped up and the search for a pressure release on food crops will be sought.