Corn, ethanol, crude oil price keep rising as 2010 closes on bullish note

January 3, 2011 |

In Illinois, Corn futures took a break from a relentless fall rally, but still reached a 29-month high of $6.29 per bushel last week, the high point since the onset of the global financial crisis in late summer 2008. Tight global supplies are being threatened by lower-than-usual yields from Argentina, which is a key corn exporter and is experiencing hotter, drier weather than normal. As corn prices have risen, ethanol prices have surged to $2.378 per gallon, up 22 percent for the year as a whole. Oil has passed $90 per barrel in a Christmastime rally in commodity prices.

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Category: Producer News

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