Corn Hits a High Note
By Cindy
Posted: January 14, 2008
Posted: January 14, 2008
Corn futures jumped to a 12-year high Monday after Friday’s USDA report predicted lower ending corn stocks for this fiscal year.
According to Bloomberg, corn futures for March delivery rose 17 cents, or 3.4 percent, to $5.12 a bushel on the Chicago Board of Trade. The price earlier jumped the exchange’s 20-cent limit to $5.15, topping the record for a most-active contract of $5.135 reached in May 1996. The highest price for any contract was $5.545 for July futures in 1996.