December corn futures fall off the table
In his new Agriculture Online column this week, Market Analyst Ray Grabanski points out that corn prices have fallen by more than $2 in recent weeks, before hitting bottom this week.
Even the crude oil market now appears that it finally formed its high, having dropped from $145 to $124/barrel, Grabanski says. "It's possible we have formed not only our yearly highs, but perhaps even decade highs in crude oil, wheat, and corn in the past few months," he writes.
Wow, think about that--decade highs. And now if commodity prices are coming back to earth, where is the point where prices break for a loaf of bread or a tank of gas?
Farmers, who have been battered by consumers, the media, environmentalists and other activists for participating in these prices, are skeptical. In a Marketing Talk discussion, Great for the country," one farmer comments: " And you can just feel the relief all across America now that corn has fallen 25% and stores everywhere will be marking down the price on nearly all items. As corn was going up, it was rising corn prices that were the root evil cause of nearly every rising cost in the news. Even popcorn at the theatres can come back down now. Woohoo!"
Even the crude oil market now appears that it finally formed its high, having dropped from $145 to $124/barrel, Grabanski says. "It's possible we have formed not only our yearly highs, but perhaps even decade highs in crude oil, wheat, and corn in the past few months," he writes.
Wow, think about that--decade highs. And now if commodity prices are coming back to earth, where is the point where prices break for a loaf of bread or a tank of gas?
Farmers, who have been battered by consumers, the media, environmentalists and other activists for participating in these prices, are skeptical. In a Marketing Talk discussion, Great for the country," one farmer comments: " And you can just feel the relief all across America now that corn has fallen 25% and stores everywhere will be marking down the price on nearly all items. As corn was going up, it was rising corn prices that were the root evil cause of nearly every rising cost in the news. Even popcorn at the theatres can come back down now. Woohoo!"
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