The surging price of corn hit another milestone on Monday morning as the cost of global commodities continues to push higher.
The contracts for July corn futures were trading above $8 per bushel on Monday, the highest level since September 2012. The contracts were trading near $6 per bushel at the start of the year.
Corn is just one of several agriculture commodities that has seen surging prices in recent weeks, in part due to the war in Ukraine. Ukraine is a major exporter of wheat and other items, such as sunflower oil, while Russia is a key producer of wheat and many of the chemicals used in fertilizer. That is leading futures traders to bet that higher input costs and more demand for corn as a substitute food item will drive up the price.
With Pedo-Slow-Joe authorizing the use of E-15 gas for the summer – the battle between food and fuel will intensify.
For the working folks – this means the price of both will go up! For the leeches, your EBT card won’t last as long between government refills!
So much for Dollys !!!
Dollies does not use dent corn. They use popcorn, and entirely different species.