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["Gloria Morris" <gloriamorris59 AT gmail.com>]

Part of the corn price issue is that more acres were planted to corn
than at any time since WWII. Of course, production per acre is much
higher today than it was in WWII. The farmers may have produced too
much corn, even with the increased demand. They bet big that vastly
increased demand would bump corn prices higher. And with so many
setting their expectations on increased corn production at higher
prices, they have likely collectively shot themselves in the foot.

Gloria

On 10/4/07, Don Bowen KI6DIU <don.bowen AT earthlink.net> wrote:
> At 10/4/2007, you wrote:
> >http://www.thetrumpet.com/index.php?q=4288.2525.0.0
>
> Very good and covers most of the high points.  The dollar paused in its
> tumble over the last few days but appears to be resuming a free fall but it
> is much too early to tell.  Several countries have started dumping dollars,
> most are small holders such as Vietnam but some are large holders such as
> oil rich Qatar.  China has been slowly reducing its holdings while Saudi
> Arabia is looking to cut loose its connection to the dollar.  Venezuela and
> Iran are accepting Euros instead of dollars for oil purchases.
>
> The falling dollar and the growth of the Chinese economy plus Southern
> Hemisphere drought has well more than doubled the price of wheat to
> $9.21.  Oil is back over $80, gold is headed to over $750, but corn is
> starting to slip.
>
> Corn is still way up but the promise of ethanol is turning out to be more
> an alcohol induced dream.  Plants are being built and tax credits are
> flowing to the blenders but the transportation system is not able to keep
> up and high gasoline prices are having an affect on the American consumer.
>
>
> Don Bowen              Awl Knotted Up                       KI6DIU
> http://www.braingarage.com
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