Home » Chicago Corn Exceeds $8- Approaches Record, While Russian Fertilizer Reaching Brazil • Farm Policy News
Bloomberg’s Tarso Veloso Ribeiro reported yesterday that, “Corn futures in Chicago exceeded $8 a bushel for the first time in almost a decade, approaching a record high as war threatens global supplies, boosting demand for U.S. grain.
CHART OF THE DAY: Corn prices rise above $8 per bushel for the first time in 10 years (and quickly approach an all-time high) as the Russian invasion of Ukraine threatens global supplies | #OATT 🌽👩🌾🚜 pic.twitter.com/l7EshVXy3Z
“The most-active July contract rose 3% to $8.07 a bushel in Chicago with the conflict in Ukraine showing no signs of easing as Russian forces attacked Mariupol overnight. Futures are nearing an all-time high of $8.49 a bushel reached in 2012 after devastating drought and heat damaged crops in the U.S. Midwest. Wheat contracts surged as as cold and snow slowed planting.”
Ribeiro explained that, “The global outlook for corn supplies has taken a hit as Russia’s…
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