Top Stories 2011: #6-10

December 23, 2011 02:53 AM

 #10 Corn Prices Still Have Room to Run

Posted: February 5, 2011
Remember the dawning of the Arab Spring last winter? Many traders were concerned about the impact that would have on the commodity markets and it created a temporary cool down in the trading pits. At the same time, Fed Chairman Ben Bernanke was commenting on the U.S. economy and the concerns he showed to food prices and any correlation to the Middle East riots was dismissed, sending the markets on a late-week rally. It was a sign of what would happen in coming months.
Posted: September 1, 2011
Have you checked out the AgWeb Harvest Maps yet? If not, see how your yields stack up against other AgWeb readers and get a handle on the size of this year’s crop. Corn submissions are total more than 1,100 self-reported yields from across the country. Soybean reports top the 600 mark.  While you’re there, take a minute and report your yields.
Posted: May 19, 2011
Low carryover numbers and lost acreage along the Mississippi River sent corn prices soaring early in last year’s growing season. That left at least one analyst, Peter Geogantones of Abbott Futures predicting record-high corn prices. Additionally, shipping problems created by the Mississippi flooding added additional concern, meaning that export buyers would bid up prices to encourage shippers to move grains, whatever the costs.
Posted: January 15, 2011
The runup in crop prices this year was similar to the runup we saw in 2008, but the conditions leading to it were more like the mid-1990’s, said Jerry Gulke in January. This lead him to believe we were on the way to $7.00/bu. for corn prices before we started to see demand curbed. He also predicted that there would be calls for government intervention and questions about China’s ability and willingness to buy at these prices. He was right. About the $7.00/bu. corn and predictions on how the public would react.
Posted: July 4, 2011
The market was caught off guard following the June 30, 2011, Acreage Report from USDA. More acres than most people expected were accounted for in the annual report, showing how many acres were planted for each crop. Corn was the surprising number as it showed a late-planting season in the Eastern Corn Belt didn’t deter farmers from switching their original plans as much as many people believed it would. Additionally, a record-pace of planting in the Western Corn Belt was enough to encourage some farmers to switch planned soybean acres to corn.  

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