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The Price Of Corn?
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Author:  Ken0069 [ Sat Jul 14, 2012 8:53 pm ]
Post subject:  The Price Of Corn?

Hummm, figures! Just about the time that E85 is getting popular with the performance engine crowd along comes news like this?? Add this to the news last year that the E85 subsidies are going to end and you've got much higher prices on the horizon.

http://www.ft.com/cms/s/0/ad1ec426-cd07 ... z20eTDtFvO

Author:  Ken0069 [ Tue Jul 31, 2012 8:24 am ]
Post subject:  Re: The Price Of Corn?

Corn prices hit record as crops shrivel

http://buzz.money.cnn.com/2012/07/30/co ... an-prices/

Quote:
Corn prices surged to a new record high Monday, as the worst drought in more than 50 years continues to plague more than half the country.

Almost 90% of the United States' corn crops are in drought ravaged areas, according to the U.S. Department of Agriculture, and nearly 40% are situated in the hardest hit spots.

Corn prices have soared more than 50% during the past six weeks as the crops continue to shrivel in relentless dry heat throughout the Midwest. They jumped another 3% Monday to a record high of $8.17 per bushel on the Chicago Board of Trade.

The Teucrium Corn ETF (CORN), which tracks a basket corn futures contracts, gained 2.5%.

Soybean prices, which are up more than 20% in recent weeks, also advanced. Prices rose 1% Monday to touch $16.17 per bushel, the highest since July 23. The Teucrium Soybean ETF (SOYB) gained more than 2%.

Soybean prices will likely continue to rise as the heat lingers in the area where soybeans are the major crop.

"Soybeans are second only to corn as the biggest agricultural product in the Midwest," said Alex Sosnowski, expert senior Meteorologist at AccuWeather.com. "While episodes of rain will continue over some agricultural areas in the Upper Midwest, Ohio Valley and East in the coming weeks, part of primary soybean growing areas will continue to be slammed by heat and drought."

Related: Get ready to pay more for your steak

Sosnowski notes that the next few weeks are crucial for soybeans. From now through mid-August is when soybeans finish their flowering stage and set pods, so mid-August is considered the cut-off for soybeans to receive rainfall without having a serious impact on production. Without rain, soybean yields are likely to be between 10% and 15% lower than the USDA had originally projected.

Prices for wheat, another grain, have also been rising on the back of corn and soybean prices. Prices for wheat futures rose more than 2% Monday, and the Teucrium Wheat ETF (WEAT) gained 1.6%.

The iPath Dow Jones-UBS Grains Total Return Sub-Index ETN (JJG), which tracks the price of corn, soybeans and wheat, was up 2.5% MOnday.

As the drought continues to spread, and grain prices keep climbing, consumers may be squeezed at the grocery store, since higher corn and soybean prices lead to higher prices for beef, chicken, vegetable oil and other staples.

Author:  mslayton [ Tue Jul 31, 2012 5:10 pm ]
Post subject:  Re: The Price Of Corn?

I paid 3.49 this past weekend, up .50 from three weeks ago. I've never run methanol, so it's still way cheaper than the $10+/gallon I was paying for c12 two years ago :-$ and I only used about 5 gallons for the 6 passes I made this weekend.

Author:  nomad [ Fri Aug 10, 2012 6:53 am ]
Post subject:  Re: The Price Of Corn?

I think they are making it out of orange pulp down here. Or should I say, what's left after they squeeze the juice out of the citrus. One citrus processor in Bartow Florida has an ethanol plant right next door. In my little burg Florida Distillers is right next to the citrus processor. So jmark must be running Minute Maid in his tank.

Author:  jmarkaudio [ Fri Aug 10, 2012 9:58 am ]
Post subject:  Re: The Price Of Corn?

No Minute Maid here, it's got to be Tropicana in my tank... ;-)

Author:  Ken0069 [ Fri Aug 10, 2012 11:36 am ]
Post subject:  Re: The Price Of Corn?

Was reading somewhere (Drudge, Townhall, etc.) and ran across a headline stating that someone is asking for a moratorium on using corn for fuel since the midwest corn crop is crap this year? :-k

Anyone else seen that? I went back looking for it later but couldn't remember what site I saw it on? (be 67 next month!) =;

Author:  Beretta [ Fri Aug 10, 2012 11:46 am ]
Post subject:  Re: The Price Of Corn?

Ken0069 wrote:
Was reading somewhere (Drudge, Townhall, etc.) and ran across a headline stating that someone is asking for a moratorium on using corn for fuel since the midwest corn crop is crap this year? :-k

Anyone else seen that? I went back looking for it later but couldn't remember what site I saw it on? (be 67 next month!) =;




Ken Looks like stage 2 CRS is setting in O:)

Author:  Ken0069 [ Fri Aug 10, 2012 2:14 pm ]
Post subject:  Re: The Price Of Corn?

Beretta wrote:
Ken Looks like stage 2 CRS is setting in O:)


Thanks for being kind Barry, but I went through stage 2 while I was still working for RR Donnelley! O:)

About now, I'm well into stage 3! [-(

Author:  Beretta [ Fri Aug 10, 2012 2:52 pm ]
Post subject:  Re: The Price Of Corn?

=; =; I am well into stage 1 and closing in on stage 2 very quickly [-( [-( ..

Author:  Ken0069 [ Fri Aug 10, 2012 3:53 pm ]
Post subject:  Re: The Price Of Corn?

One nice thing about being old is that ppl don't expect much from you! And THAT can be a hugh advantage sometimes especially when you double oh them on the tree! =;

Name on the side of this dragster will be "Geriatric Express", IF, I can ever find someone that will paint it that is! ;-)

Author:  nomad [ Fri Aug 10, 2012 6:53 pm ]
Post subject:  Re: The Price Of Corn?

If my choice is between eating corn and racing, I'm racing. I can afford to miss a meal or two.

Author:  Ken0069 [ Fri Aug 10, 2012 7:34 pm ]
Post subject:  Re: The Price Of Corn?

nomad wrote:
If my choice is between eating corn and racing, I'm racing. I can afford to miss a meal or two.


5' 9" @ 220 here so I'm with ya on that one one! If I could leave that "brown bottle" alone then I'd likely be around 205 but hey, a man can only give up so much! \:D/ A half gallon will usually last me a couple of weeks! O:)

Author:  Beretta [ Sat Aug 11, 2012 6:26 am ]
Post subject:  Re: The Price Of Corn?

5'11 and 180 =; ...I don't miss any meals \:D/ \:D/ \:D/

Author:  jmarkaudio [ Sat Aug 11, 2012 7:59 am ]
Post subject:  Re: The Price Of Corn?

Ken0069 wrote:
nomad wrote:
If my choice is between eating corn and racing, I'm racing. I can afford to miss a meal or two.


5' 9" @ 220 here so I'm with ya on that one one! If I could leave that "brown bottle" alone then I'd likely be around 205 but hey, a man can only give up so much! \:D/ A half gallon will usually last me a couple of weeks! O:)



So you are drinking the corn Ken? :-$ Then that price should be going up too...

Author:  Ken0069 [ Sat Aug 11, 2012 8:49 am ]
Post subject:  Re: The Price Of Corn?

Yes Mark, the price HAS ALREADY GONE UP! I bought a half gallon last week and it was up about $.50 from the previous one last month.

I guess that's like the rest of the stuff in life, ie, if you play, then you pay! ;-)

And speaking of play, did you find a driver for that "pipe rack" yet so you can do some testing? :-k

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