Girl Planting seeds

"We're Already Starting To Ration Our Corn" - Perfect Storm Could Send Spot Prices Higher

Corn is extensively used to feed livestock, but the surge in spot prices has forced US farmers to search elsewhere for low-cost substitutes, reported Reuters.  The persistent wet weather that swamped the Midwest this spring is now reducing corn yields.  More recently, dry, hot weather continues over large swaths of the Midwest, is also wreaking havoc on corn yields. Volatile weather as a whole, in 2019, could lead to one of the lowest corn harvests in years.  The US Department of Agriculture (USDA) last month projected 2019 corn production at 13.88 billion bushels, an 8% drop YoY.  Agricultural organizations, equipment dealers and factories that convert corn into ethanol have already felt the pressure from farmers because of millions of acres went unplanted due to wet weather across the Central and Midwest, including corn and soybean belts.  Read more....

 

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