Current price is $7.73
http://www.quotecorn.com/
With corn spiking at $7.50/Bu, some ethanol plants have indeed shut down. This will translate to more gasoline required to make up the deficit and a huge spike in food prices. Iowa is the #1 corn state and with much of the crop destroyed by flooding, delayed planting, etc., you ain’t seen nothing yet. We can further the vilification of agriculture and the farmers for wanting to make a profit.
And how. I read a lot of labels when shopping and corn or corn syrup seems to be in everything. My grocery bills are already off the charts, not looking forward to what is coming down the pike price-wise because of this tragedy.
Prayers up for Iowa's farmers and residents.