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Hi, I'm Unknown #2

Unknown #2

Lend me your ear, please?

Food, Love and Policy By Unknown #2 on April 10, 2008
The price of corn is continuing its incredible climb - and it's taking the cost of a lot of other items with it. Corn prices topped the $6/bushel mark late last week, fueled in part by rising demand and smaller than expected supplies. Link: Corn Hits $6 a Bushel on Tight Supplies: Financial News - Yahoo! Finance.
The jump means more than just costlier cereal for your breakfast bowl - corn is darn near omnipresent in the US food and gas supply. Corn feeds cattle, so meat prices will rise; corn based sweeteners are pervasive in soft drinks and numerous processed foods, so look for them to cost more too; and corn dominates the domestic ethanol market, meaning - you guessed it - no relief at the gas station, either.
If there is a silver lining to this - and the cloud is pretty big and pretty dark - it's the cooling effect the price climb is having on plans for more ethanol plants in this country. The mad scramble to build new ethanol plants, which was at a dizzying pace just last year, has been stopped in its tracks, with no ground broken for new factories, according the article. 


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