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Corn prices: As high as an elephant’s eye

Posted on 15 October 2010

From Economist.com: Another agricultural commodity surges - Corn triggered limits again on October 11th after rocketing by 8.5%, the biggest one-day rise in 37 years. By mid-week, corn was changing hands for $5.88 a bushel.
There are two reasons for this dramatic response. First, the news from the USDA was unexpected, though whispers from independent sources using sophisticated satellite analysis had hinted at trouble. The second is the importance of America for a crop eaten by people and livestock and also used to produce ethanol for fuel……………………………………….Full Article: Source


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