Corn Hits $6

Ever since the USDA projected US corn acreage to decrease by 8% this year, corn prices have shot up nearly 35 cents to $6.00 per bushel. Rainy weather moving across the Midwest has also contributed to the current rally as early plantings in the southern belt could be delayed. Ethanol prices, however, have not kept pace as ethanol's crush spread has fallen 33 cents since last Friday to settle at $1.02. Weather will be key for corn in the coming weeks.


 

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