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Corn Prices Lose Some Momentum
Though the cost of corn remains high, at least it seems to have found a practical top for the time being.
"The recent run-up in corn prices appears to be over, at least for now," says Derrell Peel, Oklahoma State University ag economist. "Much of the price increase was based on expectations about new ethanol demand but the fact is most of that increase isn't a reality yet. Corn futures also indicate corn markets have topped for now. It's possible corn prices could actually retreat somewhat depending on how feed use, exports and other market segments adjust to the higher prices over the winter, although prices are likely to remain well above year-ago levels. At any rate, corn prices aren't expected to continue increasing anywhere near the rate seen recently, if at all."
For the week ending Nov. 19, according to the National Ag Statistics Service.
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