Surge in Corn Prices Hit Nine Year High

Dale Nething, 86, transfers a load of corn from his truck to a grain silo on his family farm in Ravenna, Ohio, October 11, 2021. Dane Rhys | Reuters

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Price of corn hits 9-year high as surge in commodities continues
  • The contracts for July corn futures were trading above $8 per bushel on Monday, the highest level since September 2012.
  • Corn is just one of several agriculture commodities that has seen surging prices in recent weeks, in part due to the war in Ukraine.
  • Even prior to the war, agricultural commodities were seeing some upward pressure supply chain disruptions and high transportation costs that are contributing to inflation throughout the economy.

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