Corn down 25% on news that 2008 crop will be 2nd largest on record; E85 drops 4 cents

[HoosierRon]

AGRICULTURE SECRETARY, DEPUTY AND FSA DISCUSS CONSERVATION RESERVE PROGRAM (CRP) DECISION

Despite the damage and disruption caused by the very severe floods that hit the Midwest last month, the indications so far are that the impact on this year's corn and soybean crops will be less than what was originally feared. The markets have been reacting favorably to the good growing weather we have been experiencing in recent weeks and encouraging reports on crop conditions. Cash prices for corn are down 25 percent and for soybeans 14 percent from their record highs just last month.

Even with the damage and delays in planting caused by the floods, this year's corn crop is on track to be the second largest on record with an anticipated harvest of almost 79 million acres. The strength of the commitment America's farmers have made to meeting the nation's need for corn for food, feed and fuel has reassured the markets that there will be an adequate supply available this year.

The price of E85 dropped $0.04/gallon since yesterday. How much do you want to bet Kellogg's isn't lowering the price of your corn flakes.

[bobojay]

This corn crop news has been making the rounds in the midwest now for a couple weeks..........

[ausrutherford]

I thought those floods were sending it up?

[Whitesky]

Good for them, now kill ALL farm subsidies.

[AndrewGS]

I noticed Kroger, our main retailer of E85 down here, has lowered the price to $.50 less per gallon than regular gas. Combine that with the $.25/gal. off my mother gets (employee discount, I can use it ) and I'm thinking about an '09 HHR instead of a G3, Aveo or Fit that I would run on Shell 87AKI E10.

[K-1]

Originally Posted by Whitesky

Good for them, now kill ALL farm subsidies.

Yeah, because farmers are way too rich...

I suppose we should be importing all of our corn, soybeans, etc., if the farmers can't compete.

[D C]

Bout tme. The prices have been artificially inflated recently anyhow.

[RSW]

Originally Posted by K-1

Yeah, because farmers are way too rich...

I suppose we should be importing all of our corn, soybeans, etc., if the farmers can't compete.

Yeah, exactly, what we all must clamor for is more energy dependence. Let's send billions to the Mideast rather than have our own farmers be able to make enough to just barely not go out of business.

[CaptainDan]

Originally Posted by RSW

Yeah, exactly, what we all must clamor for is more energy dependence. Let's send billions to the Mideast rather than have our own farmers be able to make enough to just barely not go out of business.

I would much rather see some rich farmers throwing money around in Iowa, than to see some rich sheiks getting that same money.

[steinravnik]

Looks like that bubble popped....

[TruckMan]

Maybe he's referring to all the people paid not to farm their land?

[CTGentleman]

Originally Posted by RSW

Yeah, exactly, what we all must clamor for is more energy dependence. Let's send billions to the Mideast rather than have our own farmers be able to make enough to just barely not go out of business.

Now all we need is to start drilling so we can kill that dependence on multiple fronts.

[jorgesalazar521@msn.com]

Originally Posted by CBECK

A$$$ HOLE. YUP, I SAID IT IN PLAIN BLACK AND WHITE.

Originally Posted by RSW

Yeah, exactly, what we all must clamor for is more energy dependence. Let's send billions to the Mideast rather than have our own farmers be able to make enough to just barely not go out of business.

let them get rich, i says. Anytime money stays in america, mexico, canada, and the americas it benefits us one way or another. Farmers will just turn around and use the money they make to feed u one way or another. keep the cycling of dollars here in the americas

[steined]

Farm Subsidies are killing the US. Why do we use corn syrup in Soda? Farm Subsidies. Why is a lot of candy made in Canada? Farm Subsidies Why is sugar too expensive to use as a feedstock for Ethanol? Farm Subsidies Why are people paid to let land go un-used? Farm Subsidies

That being said. Minimum Wage laws hurt farmers as well as keeping out immigrant workers willing to work for low wages. So in some ways I suppose Farm subsidies are a warped way of helping Farmers for piss poor policy in other areas. Just seems like you could do better and save inflation and tax payer dollars by eliminating both.

[TruckMan]

Originally Posted by jorgesalazar521@msn.com

let them get rich, i says. Anytime money stays in america, mexico, canada, and the americas it benefits us one way or another. Farmers will just turn around and use the money they make to feed u one way or another. keep the cycling of dollars here in the americas

I think the main point is that we are being taxed to subsidize something that doesn't need to be subsidized. If we aren't taxed for this purpose, then our money stays in our pockets, which are mostly located in America. If you don't mind being taxed as long as your money stays in America, then please send all your extra cash to me and I will use it to buy an American made Suburban or Tahoe some time next year. Thanks in advance.