CME expecting corn prices to continue rising.

In Illinois, the CME says that corn prices have spiked by 36% in just the past three weeks due to worries over drought, with ethanol prices keeping pace except for the fact that there’s still a 11.6 cents per gallon negative margin based on the September corn contract. Corn prices could go up even further after Wednesday’s WASDE report where analysts expect the USDA to cut its ending stocks estimates.