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Purveyor

(29,876 posts)
Mon Jul 30, 2012, 04:05 PM Jul 2012

Corn Hits All-Time High; Heat Proves Relentless

Source: Associated Press

Corn prices raced to a record high Monday as the hot, dry summer relentlessly pounded crops across much of the country.

Corn for September delivery gained 21.5 cents, or 2.7 percent, to end at $8.20 per bushel, which was an all-time high. December corn rose 20.75 cents, or 2.6 percent, to end at $8.14 per bushel. Soybeans rose 2.6 percent.

Expectations are mounting that harvests will be smaller than anticipated for both crops because of the drought, which covers some two-thirds of the continental U.S. There is little rain in forecasts for August.

Corn fields, particularly east of the Mississippi River, have been hit the hardest. Some farmers are harvesting what they can salvage to sell for livestock feed. Others may forgo harvest and leave the fields alone, analysts say.

Read more: http://www.chron.com/business/article/Corn-hits-all-time-high-heat-proves-relentless-3747167.php



Put up as much summer produce as you can (canning can be fun, actually)...I fear of the winter grocery prices.
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Corn Hits All-Time High; Heat Proves Relentless (Original Post) Purveyor Jul 2012 OP
Kicked and recommended. Uncle Joe Jul 2012 #1
It won't be long now. n/t L0oniX Jul 2012 #2
Time to Suspend the Ethanol-in-Gasoline Mandate AndyTiedye Jul 2012 #3
That would seem to ba a good idea bhikkhu Jul 2012 #4
K & R entanglement Jul 2012 #5
Well, I think it would be a good time to stock up on some canned goods Sherman A1 Jul 2012 #6

AndyTiedye

(23,500 posts)
3. Time to Suspend the Ethanol-in-Gasoline Mandate
Mon Jul 30, 2012, 07:44 PM
Jul 2012

We can't be using corn as a motor fuel if the crop fails this badly!
It is needed for food!

bhikkhu

(10,707 posts)
4. That would seem to ba a good idea
Mon Jul 30, 2012, 10:08 PM
Jul 2012

though that does just use the low-quality corn. Perhaps if they ended that then animal feed prices would stay down, but then all those ethanol refineries might go belly-up...one way or another, climate change has consequences!

Sherman A1

(38,958 posts)
6. Well, I think it would be a good time to stock up on some canned goods
Tue Jul 31, 2012, 04:05 AM
Jul 2012

as this is going to ripple across both energy & food prices for a considerable period. I expect once prices go up, they will never really come down again.

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