Tuesday, May 3, 2011
Corn & Money
(click on image to enlarge)
Yesterday USDA's "Crop Progress" report was released: http://usda.mannlib.cornell.edu/usda/current/CropProg/CropProg-05-02-2011.pdf
Above shows the how little corn has been planted. Yesterday, the decision was made to flood thousands of acres of cropland. One might think corn prices might have skyrocketed today - not so.
Weather may be important. Supply and demand may be important. But, the almighty (or not so almighty) dollar seems to reign.
Dairy farmers will certainly face a stiffer grain bill.