Corn

Drought potential means extreme uncertainty over 2013 corn prices

Prices will either rise or fall significantly next year, depending on supply and drought

Purdue economist: US unlikely to dominate future corn exports

A Purdue University Department of Agricultural Economics report says that a return to closer-to-normal corn yields in 2013 could send prices downwards, but drought in some top corn-producing states could have the opposite effect. USDA predicts that prices on 2012 corn will be $7.60 per bushel, but that normal yields in 2013 could cause prices to fall by $2.10 to $5.50 per bushel. That would represent the largest ever year-to-year drop. According to the report, a crop larger than 14 billion bushels would mean that the market must shift from rationing corn use to strongly encouraging its use. However, such production levels are not assured, especially if a western Corn Belt and Great Plains states drought persists into the growing season. If that happens, prices would rise rather than fall, leading to continued uncertainty in the market. To read the report, click here.

Did you enjoy this article? Click here to subscribe to Food Engineering Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

Food Automation & Manufacturing Conference and Expo 2013

Images from Food Automation & Manufacturing Conference and Expo in Naples, Florida, April 14-17, 2013.

Podcasts

Burns & McDonnell Global Reporting Initiative (GRI)-certified corporate sustainability reporting (CSR) specialists discuss:

  • What is a CSR?
  • What is the GRI and the Food Processing Sector Supplement?
  • Why are companies producing CSRs?
  • What are latest CSR trends?
More Podcasts

Plant sanitation

What is the largest barrier to modernizing plant sanitation in your operation?
View Results Poll Archive

THE MAGAZINE

Food Engineering Magazine

fe may 2013 cover

2013 May

Check out Food Engineering’s May 2013 issue, featuring stories on Food Packaging, Lift Trucks and Food Safety.
Table Of Contents Subscribe

THE FOOD ENGINEERING STORE

Food-Authentication-Flyer-(.gif
Food Authentication Using Bioorganic Molecules

This text provides critical tools and data needed to augment routine food analysis and enhance food safety by aiding in the detection of counterfeit, and potentially deleterious, foods.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Food Master

Food MasterFood Master 2013 is now available!

Where the buying process begins in the food and beverage manufacturing market. 

Visit www.foodmaster.com to learn more.

STAY CONNECTED

facebook_40.pngtwitter_40px.pngyoutube_40px.pnglinkedin_40px.png