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Corn prices increase to record $6 a bushel
- Article from:
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Charleston Gazette
- Article date:
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April 4, 2008
- Author:
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Copyright informationCopyright 2008 Charleston Gazette. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK - Corn prices jumped to a record $6 a bushel Thursday,
driven up by an expected supply shortfall that will only add to
Americans' growing grocery bill and further squeeze struggling
ethanol producers.
Corn prices have shot up nearly 30 percent this year amid
dwindling stockpiles and surging demand for the grain used to feed
livestock and make alternative fuels including ethanol. Prices are
poised to go even higher after the U.S. government this week
predicted that American farmers - the world's biggest corn producers
- will plant sharply less of the crop in 2008 compared to last year.
"It's a demand-driven market and we may not be planting enough
acres to supply demand, so that ...
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