DNG converter 7.4 is listed as supporting raw files from the Fuji X20.
When I open the output .dng's in dcraw, tho, I see only the red channel; the entire image is red, with no green or blue. Image contents are barely recognizable underneath the red veil.
Is the problem with the DNG converter's demosaicing of the .raf file or with dcraw's display?
The current version of dcraw does not support X20 raw files, but I thought that once the files were converted to .dng files I could open them with dcraw.
I think I just found the answer to my own question.
The DNG converter apparently doesn't do any demosaicing. It just changes the file wrapper.
Thus correct demosaicing of the Fuji .raf file is left to whatever application converts the .dng - in this case, dcraw. Sending a .raf file directly to dcraw produces exactly the same result as converting the .raf to a .dng and sending *that* to dcraw.