Another new record for corn — this time over $7
Image via happyhomemaker88.wordpress.com.
The price of corn went over $7 for the first time today. It landed at $7.03 a bushel, after hitting record highs for five straight days on the Chicago Board of Trade. From the New York Times:
Corn for July delivery closed on the Chicago Board of Trade at $7.03 a bushel, up 30 cents. Next year’s corn was trading even higher, finishing at $7.47 a bushel and above.
Also higher today were soybeans, wheat and oil futures.
Farmers have been dealing with weather issues (specifically, rains in the Midwest), high fertilizer and pesticide costs, and growing diesel costs.
All this means the price of meat and other foods will continue to rise.
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