(NaturalNews) The U.S. Department of Agriculture (USDA) announced last week that the price of corn was at a 10-year high, after crop-damaging droughts left worldwide supplies short as ethanol fuel and livestock feed demands increased.
Corn prices have gone up 86 percent in the last year alone, leaving the world's supply of the grain at the lowest levels since 1978, the USDA said. Despite the third-largest U.S. crop in history, increased demand is projected to cause global supplies to fall by more than 50 percent.
However, the surge in corn prices may cause farmers to plant more corn in the future instead of wheat, soybeans or cotton, which would drive up prices for those crops as previous supplies fall short. March-delivery corn futures rose by 5.3 percent, while wheat rose 5 percent and soybeans rose 6.3 percent.
"We have to have a lot more acres planted to corn or the current prices will look cheap," said Dale Schultz, a commodity specialist at Nebraska-based feedlot Gottsch Enterprises.
Last year's U.S. crop was 2 percent below USDA forecasts, as American farmers planted an average of 3.9 fewer acres of corn and nationwide droughts damaged crops. Simultaneously, worldwide consumption of the grain for the year beginning Oct. 1, 2006, is predicted to exceed 725 million tons.
Rising corn prices have been largely spurred by record demand for the gasoline additive ethanol. Requests for corn-, wheat- and soybean-based ethanol could cause global corn use to rise by more than 1 billion bushels -- 47 percent -- in the coming year, according to USDA Chief Economist Keith Collins.
Increased demand and short supplies are projected to cause worldwide inventories of corn to fall below 87 million tons -- a 55 percent decrease since 2000, the USDA said.
###
Related Articles
• Consumption of soft drinks and high-fructose corn syrup linked to obesity and diabetes
• Researchers identify energy gains and environmental impacts of corn ethanol and soybean biodiesel (press release)
• Corn supply crisis looms as demand outstrips growing capacity
• Understanding the Transition From Seed Corn to Biofuels
• New Research Links High Fructose Corn Syrup to Diabetes in Children
 |
Popular Topics:
corn, ethanol, USDA, Diabetes, High Blood Pressure, Breast cancer, Prostate cancer, Heart disease, Depression, High cholesterol, Osteoporosis, Vaccines, Autism, ADHD, Infertility, Weight loss, Cancer, Alzheimer's, Trans fats, Acrylamides, Fluoride, Mercury |
Take Action: Support NaturalNews.com
Email this article to a friend
Share this article on: NewsVine | digg | del.icio.us
Permalink to this article: http://www.NaturalNews.com/021456.html
Reprinting this article: Non-commercial OK, cite NaturalNews.com with clickable link.
|
 |
 |
Receive our Natural Health Newsletter for FREE
Subscribe now (it's free!) to win. We randomly choose a subscriber each month to send $100 in eco-home products or a RealGoods.com gift certificate (our choice). Plus, you'll receive FREE news, articles and action alerts from NaturalNews.com editors and join over 800,000 monthly readers who report extraordinary health improvements after becoming a subscriber!
- Receive breaking news alerts on natural health solutions, renewable energy, the environment, global warming and more.
- Receive a free instant download of our $29 Secret Sources guide that reveals top sources for little-known health and diet solutions.
|
|
 |
 |
Recommended Special Report:
Seven Words that can Change the World
by Joseph R. Simonetta
Read this special report now...
"Seven Words That Can Change the World reveals the astonishing, simple truths that have the power to forever transform our world for the better while freeing our minds from the enslavement of limiting beliefs. This is not a text for the simple-minded; it is a guiding philosophy for the mindful, intelligent few who are wise enough to seek out -- and recognize -- the higher simplicities of truly purposeful living." - Mike Adams, the Health Ranger, editor of NaturalNews.com
|
More on NaturalNews.com:
• Streaming Health Ranger Videos
• CounterThink Cartoons
• FREE Special Reports
• Podcasts
|
 |
|
 |
 |
NEW 6-CD audio set reveals amazing new protocol for reversing cancer, diabetes, obesity, heart disease and more. Click to learn more. |
 |
Own the first 8 Health Ranger Report audio programs on 6 CDs. Covers weight loss, ADHD, vaccinations, processed meats, bone health and more. Click to learn more. |
Featured Videos
Short clip on Aspartame
A short clip on aspartame from the documentary All Jacked Up.
Click here to view now...
Exclusive video on Aspartame
The dangers of aspartame! Exclusive interview footage from Cori Brackett of Sweet Remedy.
Click here to view now...
Exclusive Footage from All Jacked Up!
See interview footage featuring the Health Ranger in the upcoming junk food film, All Jacked Up.
Click here to view now...
Drug Ad Parody
See the Health Ranger's satire parody of Merck's cholesterol drug ad.
Click here to view now... |
Eco-Friendly Products

Cows for breakfast

The Plan for the Food Supply

|
|
Read recommendations on supplement companies, health food manufacturers and personal care product makers that you can trust. Our 100% independent review list tells you who to trust and who to avoid in the natural health industry. Click to read. |
|