Corn Prices Surge 8 Cents!

Corn has been a hot subject here on Mover Mike lately in conjunction with food shortages.  Today, corn took another giant step forward by breaking out of a three month trading range:

I suspect we will be trading back to the NOV., DEC., 2009 highs of $4.40 before too long.

In the trading pits today, one reason for the surge in Corn was news out of Russia that the wheat crop is suffering. The Des Moines Register wrote

Analysts say reports are circulating that Russia’s wheat crop is down drastically this year, removing some of the cheap animal feedstock that is used by many countries as a substitute for more expensive corn.

Tags: Corn Food shortages Russia’s wheat crop

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