Like the Crook from Chicago said, never let a crisis go...
The River bottoms of Missouri and Mississippi aren’t the only places in America where Corn is grown. You’ld be simply amazed if you knew how many Millions of Bushels of Dried Corn are sitting in Silos waiting for the price to go up before they sell.
Will the price of things go up? Sure. That’s why there is a commodities market. :) Same as a hot dry summer would cause.
Will there be a shortage of Pork Chops and Hamburger? NAH, not a chance.
However, if I had a Silo full of Corn and soybeans I’d be looking at purchasing a few hundred feeder pigs right about now. Maybe I could make a few bucks.
Nobody is gonna starve this year due to a shortage in corn. Maybe the ethanol market will take the biggest hit. :) Back to 5-6 dollar a gallon fuel...hahahahaha suckas.
Well, I don’t buy corn anyway. I grow my own. I do believe that prices could rise - we are not the only country with problems in the food area. So prices will be going up most likely.
In fact beef prices here are already up about a buck per lb. So I’ll stock up at weekly sales. Did the same thing when oil prices spiked. Stocked up on a years worth of our most used staples. For Example peanut butter purchased for a buck, prices went up to $1.89 later went down to $1.25.
I do watch out for things that can cause temporary price spikes and stock up before hand. YMMV
Correction to post 1715:
2018 data
81.8 million acres in corn production
Average yield 175 bushels per acre!!!
Iowa average yield 202 bushels per acre!!!!
Wow.