Corn Back to 2009 Highs!

On July 15th I noted that Corn broke through a three month trading range and I predicted “we will be trading back to the NOV., DEC., 2009 highs of $4.40 before too long.” Today we see Corn trading at $4.41.

One Response to “Corn Back to 2009 Highs!”

  1. Lester Brown is an enigma to me.
    He started as a farm boy and went on to become a member of the Council of Foreign Relations, Sierra Club and even founded his own Worldwatch Institute and Earth Policy Institute. He is a believer in man caused global warming and has received awards from the United Nations for his work.
    Except for being a farm boy, none of the above rate him highly in my book.

    But, he recently called for a change in our grain reserves policy and eliminating the ethanol subsidies.
    We heavily subsidize our corn production.

    The recent drought situation in Russia has raised Brown’s concerns.
    I am not sure we would want to stockpile for human consumption, the RoundUp Ready, genetically engineered corn that we grow, but in this time of plenty, I wouldn’t mind a Joseph attitude of seven years reserve rather than 70 days.

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