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NEW YORK (AP) -- Food prices could rise next year because an unseasonably hot summer likely damaged much of this year's corn crop.
The U.S. Department of Agriculture estimated Monday that a surplus of 672 million bushels of corn will be left over at the end of next summer. The estimated surplus is down from last month's forecast and well below levels that are considered healthy.
Originally posted by bftroop
Than just don't buy anything with corn it. Corn is what makes Americans Fat anyway. Corn is mainly used as a filler and to produce Corn Syrup. Less Sugar healthier people. Corn is def not the only food on the planet. We can always eat people!!!
Originally posted by Maxmars
Not being a speculator, I can't say that I completely understand how having less "extra" (surplus) corn drives the price for everyone else, up.
If I sell 100 pounds of apples every year, but usually my trees give me 150 pounds... then the year that I get 125 pounds from my trees doesn't actually change the 100 pounds I sell each year... but then this is corporate America where news releases and speculators rule our pricing....
Also, maybe if we stop using our corn to make unused (surplus) fuel alcohol, we might again, offset the 'dire' circumstance being described to justify more wealth-taking....
Never-mind..., price-hikers gonna hike.