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Why Your Grocery Bill May Be Going Up

Joe 145 Wrote: Jun 27, 2012 8:24 AM
And we want to convert food into fuel? What madness is this?
lamiablk Wrote: Jun 27, 2012 10:40 AM
Yeah, I'd like to know who came up with *that* bright idea... "Who cares if we starve the poor in 3rd world countries, we'll be saving the planet..." Idiots

Hot, dry weather in key growing areas in the Midwest has triggered a price surge in Soybeans, Corn and Wheat futures over the past two weeks, threatening the size of the crop in agricultural markets already facing tight supply situations.

After reaching a bottom at $4.99 per bushel in mid-May, December Corn lingered inside of a 50 cent range, even threatening to make a new low for the growing season following a trade to $5.06 on June 15. However, the forecast for severe growing conditions helped trigger a short-covering rally that has sent Corn prices soaring to price levels not...