- By Our Agriculture Correspondent Huck "Corn-Boy" Weis
Six weeks of rain have flooded untold acres of corn fields in the U.S.
heartland, forcing farmers to abandon their crops. Corn for July
delivery rose 5.75 cents to settle at $7.09 a bushel on the Chicago
Board of Trade, after earlier rising to a new all-time high of $7.25 a
bushel. It was corn's sixth straight trading record in as many days.
Prices broke past the $7 barrier for the first time Wednesday.Prices for the corn in the ground now jumped even higher. Corn for December delivery soared to a record $7.55 a bushel on the CBOT before falling back to settle at $7.395, still up 6.75 cents.
What does this mean for fresh corn on the cob? Bad news. Bad News indeed.
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