Corn Closed Friday at Its
Lowest Price in
37 Months
In
news that could help the ailing California Dairy Industry, the Wall Street
Journal reported TODAY that corn closed at its lowest price in 37 months as
farmers speed the harvest of what is forecast to be a record crop, boosting availability
for processors of food, ethanol and animal feed.
Wheat
also declined while soybean prices gained slightly. U.S. corn growers are
expected to harvest 13.8 billion bushels this year, the most ever, as yields
increase by 26% to 155.3 bushels an acre, according to the Department of Agriculture.
Dry
weather in the past week and little rain in the next 72 hours will allow
farm-ers to accelerate the harvest, replenishing stockpiles for commercial
users and exporters of the grain.
Yields
for corn that has been harvested in the U.S. are also coming in better than
forecast earlier this year, analysts said. Analysts surveyed by Dow Jones
Newswires said they expect yields to total 156.8 bushels an acre, up from
USDA's outlook.
Labels: Low Corn Price Could Help Dairies in California. California Dairies. Lowest Corn price in 37 months.
