Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: Weekend Economists Rise Again August 10-12, 2012 [View all]Demeter
(85,373 posts)23. Amid drought, USDA cuts corn crop estimate to 17-year low
http://www.latimes.com/business/money/la-fi-mo-corn-crop-estimate-drought-usda-20120810,0,808223.story
The punishing Midwest drought is expected to reduce the nation's corn crop to its lowest level in almost two decades.
On Friday, the U.S. Department of Agriculture cut its estimate for the corn crop by nearly 17% and raised the upper end of its price forecast by 39% to almost $9 a bushel.
In its report, the USDA forecast the nation's corn yield to be about 123.4 bushels per acre -- the lowest level in 17 years.
The agency also revised its previous price predictions. Per bushel, corn is expected to rise as high as $8.90 -- up sharply from previous estimates of $5.40 to $6.40 per bushel.
As a result, food prices are expected to rise, with poultry and dairy products rising before beef.
MORE
The punishing Midwest drought is expected to reduce the nation's corn crop to its lowest level in almost two decades.
On Friday, the U.S. Department of Agriculture cut its estimate for the corn crop by nearly 17% and raised the upper end of its price forecast by 39% to almost $9 a bushel.
In its report, the USDA forecast the nation's corn yield to be about 123.4 bushels per acre -- the lowest level in 17 years.
The agency also revised its previous price predictions. Per bushel, corn is expected to rise as high as $8.90 -- up sharply from previous estimates of $5.40 to $6.40 per bushel.
As a result, food prices are expected to rise, with poultry and dairy products rising before beef.
MORE
Edit history
Please sign in to view edit histories.
Recommendations
0 members have recommended this reply (displayed in chronological order):
79 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Drifting Away From Our Ideals By Gar Alperovitz, The Democracy Collaborative | Book Excerpt
Demeter
Aug 2012
#3
Kevlar Tires Now Required to Traverse ‘Spear-Like’ GMO Crops By Anthony Gucciardi
Demeter
Aug 2012
#17
How Back-to-the-Landers in California Inspired a Japanese Farmer to Fight Desertification
Demeter
Aug 2012
#30
Justice Dept. Ends Investigation into Goldman Sachs Mortgage Abuses Without Pressing Charges
Demeter
Aug 2012
#26
COULDN'T MAKE THIS UP: Alleged Chinese-Mexican Meth Lord Is Causing A Headache For Sheldon Adelson
Demeter
Aug 2012
#29
Can anyone remember the map I posted a few years ago of a possible future United States
DemReadingDU
Aug 2012
#49
There's a guy advocating an amicable divorce between North and South (End the Civil War)
Demeter
Aug 2012
#54
Raging Bulls: How Wall Street Got Addicted to Light-Speed Trading By Jerry Adler MUST READ
Demeter
Aug 2012
#57
When Did Sandy Weill Change His Mind About Too Big To Fail? And Why? MATT TAIBBI
Demeter
Aug 2012
#62
Countries With Less Global Exposure Are Actually Doing Better Than Those With More
xchrom
Aug 2012
#70
"... it's the STRUCTURES" "... it's the STRUCTURES" "... it's the STRUCTURES"
bread_and_roses
Aug 2012
#76