Yikes - the price of Corn

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From the Orangeburg, SC Times and Democrat:
U.S. corn reserves may hit 15-year low
Rising demand for corn from ethanol producers is pushing U.S. reserves to the lowest point in 15 years, a trend that could lead to higher grain and food prices this year.

The Agriculture Department has left its estimate for corn reserves unchanged from the previous month. The reserves are projected to fall to 675 million bushels in late August, when the harvest begins, or roughly 5 percent of all corn consumed in the United States. That would be the lowest surplus level since 1996.

The limited supply is chiefly because of increasing demand from ethanol makers, which rose 1 percent to 5 billion bushels. That's about 40 percent of the total crop.
Watch as food prices spike. This is hurting the poor more than it is the well-off. How many "poor" democrats will wake up and switch party allegiances. Get rid of this ethanol stupidity and get back to business...

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About this Entry

This page contains a single entry by DaveH published on April 18, 2011 12:35 PM.

The best time to act on this was decades ago. The second best time is now. was the previous entry in this blog.

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