CORN PRICES PUSH UPWARD
Saturday, June 18th, 2011 -- 7:21 AM
Corn prices are once again on the climb.According to the [i]Wisconsin Farm Bureau[/i], 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.
Feel free to contact us with questions and/or comments.