Corn futures jumped 58 percent in just 10 weeks from a 9-month low of $3.25 per bushel June 29 to a 2-year high of $5.13 Sept. 17. Higher corn prices are dangerous because, as a major feedstock and input cost, they discourage producers from expanding flocks/herds due to higher operating costs. Thus, they have the potential to drive prices higher for poultry, pork, beef and dairy in 2011. In September, the USDA revised downward estimates of corn acreage, yield per acre and corn ...
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