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CORN PRICES PUSH UPWARD
Saturday, June 18th, 2011 -- 7:21 am
Posted by Riley Hebert-News Director
Corn prices are once again on the climb.
According to the Wisconsin Farm Bureau, the price per bushel rocketed to highs not seen in three years following the release last week of USDA’s monthly World Agricultural Supply and Demand Estimates. The increase also has a lot to do with the wild spring weather.
USDA is projecting U.S. corn production to be 13.2 billion bushels this year, still a record, but down 305 million bushels from the May estimate.
Corn futures for July delivery increased 21.5 cents, or 2.8 percent, closing at $7.855 per bushel on the Chicago Board of Trade on June 8. At one point that day, July corn futures hit $7.93, the highest since June 30, 2008.
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