Big freeze = better corn prices
Reuters reports that the deep freeze that has hit the Midwest and much of the rest of the nation bumped up commodity prices as exporters worry about supplies. The Illinois River froze, and many expect trouble in spots along the Mississippi, too. The problem with another bumper corn crop is just getting it where it needs to be be. Winter wheat is another story, with experts expecting heavy damage in places that don’t have good snow cover for insulation. Corn prices were up nearly 50 cents over futures on news that Gulf of Mexico exporters were scrambling for corn shipments.
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