As we all have been tracking corn prices, we know that corn typically trades between $2 and $3 a bushel. Over the last several weeks, prices have been hovering around $4. A bushel of corn for May delivery was trading at $3.74 a bushel today (Friday) on the Chicago Board of Trade.
It looks as if farmers are responding to the increased price (in part, due to ethanol production) with an increased planting. Let's hope the weather holds!
(graphic from the NYTimes)
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