Personally, I do not believe an increase in the US price of corn due to ethanol demand will necessarily result in a "large" increase in the price of other crops such as wheat and beans since there are many more acres around the world which can grow fairly good wheat and beans than there are places around the world that have the growing conditions/soil/heat/moisture and infrastructure to produce good corn.

Any significant increase in the world price of wheat, beans etc will increase production in other countries enough to moderate the price increases in those crops. Beans in the US will need to be much higher to compete with corn and I suspect the world will eventually supply enough beans before we get to commodity bean prices which will produce profits competitive with good corn in the US cornbelt. jmho.

Jim at Dawn