Corn Market Could go Higher than $8.00

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Corn Market Could go Higher than $8.00

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By Sarah Gustin, News Reporter - email

The possibility of 8 dollar corn could soon be a reality. A recent USDA report shows harvested U.S. corn acres in 2012 are actually less than anticipated.

Eugene Graner with Heartland Investor Services in Bismarck is expecting the corn price to rise to more than 8 dollars a bushel.

Graner says if the drought continues in Kansas, the price could even reach 9 dollars.

"My model for an 8 dollar corn market by the second quarter of 2013, has now moved up to 8.50, possibly the 9 dollar region if the plains states don't catch some rain," he said.

"You are going to take wheat out of the feed rations. All we can feed is corn that we don't have."

Graner says in the last week the corn market has jumped 55 cents.

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