Chuck
06-18-2008, 11:19 PM
Corn prices were already on a tear before the floods, driven up more than 80 percent in the past year as developing countries like China and India scramble for shrinking grain supplies to feed fast-growing populations and livestock. (http://ap.google.com/article/ALeqM5jND4r3B-VBZu2Ogg2_yzjYnPIP8gD91CN8384)
http://www.cleanmpg.com/photos/data/501/Corn_for_Ethanol1.jpgAP - June 18, 2008
Price continues to climb. Related article: Rising grain and energy prices push up US food bills (http://www.iht.com/articles/ap/2007/10/09/business/NA-FIN-US-Food-Prices.php) (Oct 8, 2007) - Ed.
Corn prices crept closer to an unprecedented $8 a bushel Wednesday on concerns that damage to cornfields from Midwest flooding is worse than previously thought, which could further drive up the price of food.
Other commodities traded mostly higher, with crude oil, gold, silver and copper futures gaining.
The U.S. Department of Agriculture will say how big this year's U.S. corn crop will be later this month, but the agency has already hinted it also will do a special assessment of how many acres have been lost to massive flooding that struck the Midwest last week. Estimates of the toll vary widely, from 2 million to 5 million corn acres damaged or destroyed by floodwaters…http://ap.google.com/article/ALeqM5jND4r3B-VBZu2Ogg2_yzjYnPIP8gD91CN8384
http://www.cleanmpg.com/photos/data/501/Corn_for_Ethanol1.jpgAP - June 18, 2008
Price continues to climb. Related article: Rising grain and energy prices push up US food bills (http://www.iht.com/articles/ap/2007/10/09/business/NA-FIN-US-Food-Prices.php) (Oct 8, 2007) - Ed.
Corn prices crept closer to an unprecedented $8 a bushel Wednesday on concerns that damage to cornfields from Midwest flooding is worse than previously thought, which could further drive up the price of food.
Other commodities traded mostly higher, with crude oil, gold, silver and copper futures gaining.
The U.S. Department of Agriculture will say how big this year's U.S. corn crop will be later this month, but the agency has already hinted it also will do a special assessment of how many acres have been lost to massive flooding that struck the Midwest last week. Estimates of the toll vary widely, from 2 million to 5 million corn acres damaged or destroyed by floodwaters…http://ap.google.com/article/ALeqM5jND4r3B-VBZu2Ogg2_yzjYnPIP8gD91CN8384