Cramer's 'Mad Money' Recap: The Corn Is Very Green

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Maize Plays

There's only one way to make some money off high gasoline prices, Jim Cramer told "Mad Money" viewers Wednesday. And that's by cracking some corn and delving into the world of ethanol.

President Bush is talking about relieving gas prices, but Cramer said that he doesn't care about the Strategic Petroleum Reserve or the price-gouging investigation.

All he heard is that Bush is deeply committed to the agricultural expansion of ethanol.

That means farmers will need to grow more corn, and to do that will need more equipment. But that doesn't mean it's time to run out and buy Deere(DE Quote), he said.

The company is too picked over, and since it's up again it's getting harder to make money in the stock, he said. Deere isn't a sell, he said. It's just a don't buy.

It's time to work down from best of breed to some of the less-prestigious names that could make you ethanol money, he said, referring to Agco(AG Quote) and Gehl(GEHL Quote).

Agco makes combines that thresh, separate and clean corn, making it a pure play on ethanol production, he said. The company is small and has gone unnoticed for a long time, but it will likely gain attention thanks to the "federally mandated arms race" in the ethanol space, he added.

"Everyone will be scrambling to buy equipment to plant and harvest corn," he said.

As for Gehl, Cramer said that the company has basically the same equipment that Agco has, as well as products for the dairy, livestock and poultry agricultural sectors.

It's not a pure play, Cramer said, but he believes that it could also benefit from the new popularity of ethanol production.

Like Agco, the company has flown under Wall Street's radar for a long time, and "stocks that go unnoticed are often undervalued," he said.