Friday, April 4, 2008

Corn Hits $6 a Bushel on Tight Supplies
Thursday April 3, 6:56 pm ET
By Stevenson Jacobs, AP Business Writer

Corn Prices Jump to Record $6 a Bushel, Driving Up Costs for Food, Alternative Energy

NEW YORK (AP) -- Corn prices jumped to a record $6 a bushel Thursday, driven up by an expected supply shortfall that will only add to Americans' growing grocery bill and further squeeze struggling ethanol producers.

Corn prices have shot up nearly 30 percent this year amid dwindling stockpiles and surging

Corn, top left, and soy beans carpet the rolling fields near Greenwood, Neb. in this July 23, 2007 file photo. Farmers are expected to plant 86 million acres of corn in 2008, the Department of Agriculture predicted Monday, down 8 percent from 2007, when the amount of corn planted was the highest since World War II. Soybean planting is expected to be up 18 percent, at almost 75 million acres. (AP Photo/Nati Harnik, file)

More.........
Posted by at

Blog Archive