Drought in Brazil stressing corn crop that is in critical pollination stage.
May 12, 2021
The price of corn in the U.S. has been increasing this year and is now approaching record highs. As of Monday, according to
The Wall Street Journal, corn prices are up 50%, with the cost of a bushel at $7.73, and prices are closing in on highs not seen since 2012 when drought decimated crops across the Midwest and sent prices soaring to $8.31 a bushel, the
Journal reported.
Like in 2012, weather is a factor in the rising corn prices and, once again, drought is the primary trigger. However, it s affecting farmers in Brazil rather than in the U.S.
The price of corn in the United States has been increasing this year and is now approaching record highs. As of Monday, according to The Wall Street Journal, corn prices are up 50%, with the cost of a bushel at $7.73, and prices are closing in on highs not seen since 2012 when drought decimated crops across the Midwest and sent prices soaring to $8.31 a bushel, the Journal reported.
Like in 2012, the weather is a factor in the rising corn prices and, once again, drought is the primary trigger. However, it s affecting farmers in Brazil rather than in the U.S.
With rainfall amounts far below normal, the weather pattern in Brazil continues to stress corn crops, which are now in the critical pollination stage. Last November, AccuWeather experts warned that this year’s crop would be adversely impacted by the dry weather.