Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

High Demand Causes Surge in Corn Prices (ethanol/energy-related)
Las Vegas Sun ^ | 12 Jan 07 | Libby Quaid

Posted on 01/12/2007 6:47:18 AM PST by xzins

High Demand Causes Surge in Corn Prices By LIBBY QUAID ASSOCIATED PRESS

WASHINGTON (AP) - Ethanol plants and foreign buyers are gobbling the nation's corn supplies, pushing prices as high as $3.40 a bushel, the Agriculture Department said Friday.

Farmers haven't seen prices this high for more than a decade. The monthly crop report forecast even better prices than in December, raising the estimate 10 cents to $3 to $3.40 a bushel.

Robust prices have made corn more expensive for livestock feed and as food for people. But a drop-off in those uses was more than offset by growing demand from foreign markets. Exports are forecast to claim 2.25 billion bushels of corn from last year's crop, up from last month's forecast of 2.2 billion bushels.

Overall, the corn crop came in at 10.5 billion bushels, slightly under last month's forecast of 10.7 billion bushels. Anticipated yields were 2.1 bushels lower per acre, and the area planted and harvested was slightly smaller than expected.

The amount of corn used for ethanol, forecast at 2.15 billion bushels, was unchanged from last month.

Nationwide, supplies of corn are expected to drop to 752 million bushels, a drop from last month's forecast of 935 million bushels and a steep decline from last year's supply of 1.967 billion bushels.


TOPICS: Front Page News; News/Current Events
KEYWORDS: agriculture; anwr; corn; energy; ethanol; keystonexl; monsanto; mtba; opec; renewableenergy
Navigation: use the links below to view more comments.
first previous 1-5051-56 last
To: xzins
High Demand Causes Surge in Corn Prices

Duh. Did leftists really not see this coming? Are they really that inept when it comes to basic economics? Next they will be telling us that mandating Californians to purchase medical insurance (increasing demand at the point of a gun) will somehow result in lower insurance rates. Oh brother.

51 posted on 01/12/2007 6:13:09 PM PST by Hoodat ( ETERNITY - Smoking, or Non-smoking?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Keith in Iowa

Good list. Thanks.


52 posted on 01/12/2007 6:33:33 PM PST by xzins (Retired Army Chaplain and proud of it! Supporting our troops means praying for them to WIN!)
[ Post Reply | Private Reply | To 49 | View Replies]

To: thackney

Thanks.


53 posted on 01/12/2007 8:02:30 PM PST by TKDietz (")
[ Post Reply | Private Reply | To 45 | View Replies]

To: TKDietz

Wow! Thank you for the eye-opening post. You enlightened me!


54 posted on 01/13/2007 9:30:35 AM PST by GVnana (Former Alias: GVgirl)
[ Post Reply | Private Reply | To 34 | View Replies]

To: xzins
The grain market in general is heading toward the early summer of 1996 life time record highs. Corn is king.

Ethanol inflames grain market: Corn, wheat prices hit daily maximum

55 posted on 01/14/2007 2:45:27 PM PST by M. Espinola (Freedom is never free)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...
Note: this topic is from January 12, 2007.
Thanks xzins.
Overall, the corn crop came in at 10.5 billion bushels, slightly under last month's forecast of 10.7 billion bushels. Anticipated yields were 2.1 bushels lower per acre, and the area planted and harvested was slightly smaller than expected. The amount of corn used for ethanol, forecast at 2.15 billion bushels, was unchanged from last month. Nationwide, supplies of corn are expected to drop to 752 million bushels, a drop from last month's forecast of 935 million bushels and a steep decline from last year's supply of 1.967 billion bushels.
Remarkably enough, ethanol was made from more corn than was actually produced. /s


56 posted on 04/30/2012 3:26:42 PM PDT by SunkenCiv (FReepathon 2Q time -- https://secure.freerepublic.com/donate/)
[ Post Reply | Private Reply | View Replies]


Navigation: use the links below to view more comments.
first previous 1-5051-56 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson