Wednesday, August 22, 2012

Corn Prices

Corn prices are up, closing yesterday at $8.38 per bushel.  We've had a terrible drought in the bread basket and lots of grain was lost to the lack of water.  Soybeans are up, as is wheat. 

Our president can't control the weather, but he can control the amount of corn that we eat, and the amount that we use to make fuel.  Common sense says that if you're burning your food, you're doing something wrong.  If you're converting food into fuel, you've got your priorities misplaced.  If you don't think rising corn prices affect you, then think again.  Corn and the sugar it provides permeates our economy.  It hits you at the gas pump, at the meat aisle, on the breakfast cereal aisle, on the vegetable aisle.  It's in your soda, your bread, just about everything you purchase at the grocers is linked to corn.

President Obama , through this Agriculture and Energy departments, can affect how much grain gets changed into ethanol.  According to the US Dept of Energy, we're now producing 7.5 billions of gallons of ethanol. Or, about four of every ten rows of corn.

Prices are rising everywhere and a big chunk of that is corn prices.  What we're doing is foolish, but our President doesn't understand that simple fact.

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