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Well, you've got the drought in the midwest/southwest. You've got the oil and food companies buying up an enormous amount of grain for fuel and food additives. And finally, most of the grain has been sold to other countries leaving us with next to nothing. It's that simple. Companies in the US is going after the big dollar rather then feeding there own.
I don't think you understood my post. The commodities market is in chicago. That is the wall street for all commodities(grain, corn, beans, cotton) They set the market price for commodities. The speculators said we are going to have more corn and soybeans then the country can handle, so the price per bushel keeps dropping. Last i checked it dropped $4 a bushel. I got 50 bushels to the acre last year. so right now that is a loss of $200 an acre. It has been dropping everyday for the past month.
That is todays tradeing price $12.50 a bushel