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Why Your Grocery Bill May Be Going Up

Paul4266 Wrote: Jun 27, 2012 6:38 PM
With oil & natural gas (etc) so prevalent, only idiots would use their food supply for their fuel supply...!

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...