December corn futures have fallen $1.37 since June 27. Ethanol is not to blame for high prices. Weather has been the largest contributing factor. Sometimes it doesn’t rain and you don’t harvest much. You have all of the expenses to pay for still. MAP fertilizer went from $200/ton to $1000/ton and Urea $160/ton to $700/ton.
Really?? LOL!
Grains have been coming down off those ridiculous highs that's true, however I don't let ethanol off the hook particularly when it comes to the fuel vs. feeding animals decision the country will have to make sooner or later. It's mostly the investment funds that cause the market volatility we see these days.
Grains broke hard yesterday and with wheat to sell I'm watching carefully. But with markets the way they are anymore, wild and unpredictable and not necessarily based on traditional factors such as yields, weather and demand, it's anybody's guess what will happen and huge fluctuations over a two minute period aren't uncommon anymore.
It used to be the price of corn might not fluctuate ten cents in six months. Now however, it's best to hold onto one's hat.