Iowa professor blames falling ethanol prices for John Deere layoffs

In Iowa, the head of the Departments of Finance and Economics at University of Northern Iowa is blaming falling ethanol prices—and therefore lower corn prices—for pinching farmers’ pockets so much that they don’t buy as many John Deere tractors, leading to layoffs at the famous Deere Green manufacturer. Though he mentions falling oil prices, ethanol apparently is more to blame.