Sunday, August 16, 2009

Minnesota farmers eye bumper crop

SkunK says Huge Corn Crop. Had the Rain. Had the weather. Good for the Ethanol Industry. . .
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A plentiful crop. There's not a grain shortage anywhere in sight — unlike the picture in early 2008, when fears of scarcity sent markets panicking and food prices spiking.

Peter Georgantones, a Minneapolis broker with Investment Trading Services, said his survey of grain farmers has found excellent crops in every direction. Corn yields in Minnesota should hit 167 bushels an acre, the second highest on record. Average U.S. yields could reach 159.5 bushels an acre.


"I've been doing this for 22 years now, and I have never had a year like this one," Georgantones told reporters. "My farmers love to complain about their crops. Nobody's complaining this year."
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Terry Reilly, an analyst with Citigroup Global Markets in Chicago, told Bloomberg News, "With lower corn prices, you could see some of the stalled ethanol plants in the Midwest get turned back on."

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See Entire Article Here:
http://www.twincities.com/ci_13045141?IADID=Search-www.twincities.com-www.twincities.com

SkunK

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