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Corn Is the Latest Commodity to Soar

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Posted By: OhioNick, 5/10/2021 4:09:15 PM

America’s biggest cash crop has rarely been more expensive. Corn prices have risen roughly 50% in 2021 and a bushel costs more than twice what it did a year ago. Corn has been one of the sharpest risers in the broad rally in raw materials that is prompting companies to boost prices for goods and fueling concern among investors that inflation could hobble the post-pandemic economic recovery. Lumber prices have shot to more than four times what is typical, pushing up home prices and obliterating renovation budgets. Copper, a cog of industry found throughout the home and in electronics, hit record prices Friday.

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Reply 1 - Posted by: Mizz Fixxit 5/10/2021 4:17:00 PM (No. 781071)
Paywall.
5 people like this.

Reply 2 - Posted by: Surroundedbyblue 5/10/2021 4:31:19 PM (No. 781083)
Not sure they will be successful by allowing prices to continue to soar. There is going to reach a point, sooner, not later, where things will explode. They are playing with fire.
11 people like this.

Reply 3 - Posted by: stablemoney 5/10/2021 4:49:16 PM (No. 781105)
We have plenty of inflation. There is no need to exaggerate the problem by comparing this year to last year's pandemic lows. Comparisons to 2019 would be more accurate.
10 people like this.

Reply 4 - Posted by: Thos Weatherby 5/10/2021 5:00:17 PM (No. 781115)
We can start with the immoral act of using corn to gas up our cars. Get rid of ethanol.
28 people like this.

Reply 5 - Posted by: Dodge Boy 5/10/2021 5:25:41 PM (No. 781139)
Yes, paywall. But, suffice to say, the inflationary times we all anticipated are here. $75 for a sheet of 1/2 inch plywood? Forget about it. Watch breakfast cereal prices hit the roof soon.
12 people like this.

Reply 6 - Posted by: IowaDad 5/10/2021 6:25:55 PM (No. 781186)
We can't live at a corn price of $3.50 (Aug last year). $7:50 sounds a lot better! It might increase the price of Corn Flakes by smidge One bushel of corn weighs about 56 pounds. At a price of $7:50 a bushel that translates to about 1 cent per ounce. One 20 ounce bag of Corn Flakes sells for about $5, and contains about 2 ounces of corn, So, increasing the price of corn from $3.50 to $7:50 adds about 1 cent or 0.2% to manufacturing cost.
2 people like this.

Reply 7 - Posted by: rikkitikki 5/10/2021 7:12:06 PM (No. 781222)
Corn is a staple in the diets of everyone who eats corn tortillas...and these price spikes will double the cost of their daily bread to all of those folks. Last time that happened, there were food riots in the affected cities (think, Mexico). I just hope that their American relatives all remember to thank Uncle Joe.
3 people like this.

Reply 8 - Posted by: dst4life 5/10/2021 7:37:50 PM (No. 781255)
Since we are having a problem with the pipeline, maybe Xiden will recommend that our cars be totally powered by ethanol. Yes, that's right. Use all of the corn grown in America on fuel. At least until we get all those wonderful solar panels and wind mills up and running. That way, many people will starve and die. And that will cut back on Amerika's carbon footprint.
5 people like this.

Reply 9 - Posted by: DVC 5/10/2021 7:49:49 PM (No. 781263)
Dems continue their demolition of the economy unabated.
7 people like this.

Reply 10 - Posted by: Venturer 5/10/2021 9:22:32 PM (No. 781309)
So who gets the benefits of this price. I hope it's the farmers. But somehow I doubt it.
2 people like this.

Reply 11 - Posted by: JHHolliday 5/10/2021 10:12:54 PM (No. 781345)
The “happy days are here again” a la the Carter years. A struggling economy and soaring inflation.
2 people like this.

Reply 12 - Posted by: franq 5/11/2021 6:05:32 AM (No. 781546)
Inflate your tires!
1 person likes this.

Reply 13 - Posted by: LadyChurchillUSA 5/11/2021 9:45:00 AM (No. 781758)
Seen it all before. Our kids don't believe the stories about gas lines. Yellen said yesterday she sees no evidence of inflation. Amazing. The woman is an idiot but then so is her boss, so just roll along. The UN will be screaming soon though because believe it or not we feed the world and it is getting a lot more expensive to do it. Shut down oil and you slit your own throat like it or not. The greenies will be thrilled to be sitting in the dark with no cell phones and no food. They live in a fantasy land where fairies produce all they need.
0 people like this.

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