USDA: Wet Weather Slowing Corn Planting

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USDA: Wet Weather Slowing Corn Planting

By Becky Ogann

DES MOINES (AP) - The U.S. Department of Agriculture expects corn production this year to be down 7 percent from the record breaking heights of 2007.

The report released Friday projects about 12 billion bushels of corn will be harvested this year. About one-third of that amount will be directed toward ethanol production.

Wet weather has slowed corn plantings, causing the greatest delay since 1995. The USDA reports that only 27 percent of the nation's corn crop had been planted through May 4.

The report is unwelcome news for those looking for relief in corn prices. The crop's price has skyrocketed over the last year to more than $6 a bushel, amid an ethanol boom and more demand for exports.

Sunday, May 11 at 1:15 AM Duhhh ... wrote ...

"Big Oil" clears about EIGHT cents profit per gallon of gasoline, once they've paid for oil extraction, refining, transportation, etc. They're the ones that take the business risk of providing the product. Meanwhile the Fed Govt grabs SIXTEEN CENTS per gallon for doing ABSOLUTELY NOTHING. "Big Oil" is a convenient punching bag. Where's the outrage over BIG GOVERNMENT? PS: It's also "Big Oil" that is buying the ethanol to dilute their gasoline with. YOu can thank THEM for record corn prices.

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Saturday, May 10 at 7:06 AM Its just you wrote ...

You have a some what valid point, but I read no where in this story about a handout. On another note, the "handout" is to supress a free market and ensure affordable food.

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Saturday, May 10 at 4:22 AM iowablizzard wrote ...

You Watch: The Corn Cost to General Mills in a Box of Cheerios Amounts to 10 Cents on the Dollar to Market, But the Farmer is Going to Take the Hit for "Gouging" the Consumer and No One Says Anything About $4.50 a Gallon for Diesel Fuel Going into the John Deere for Production; I Don't Get That: Big Oil Man to Save Us?? NOT! I Salute the Iowa Farmer for Inovation and Proficiency: He isn't making the Buck, Big Oil IS..

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Friday, May 9 at 5:46 PM Is it just me, or ... ? wrote ...

If my livelihood was so dependent on the weather, and I was unwilling to take the risk, I would consider another occupation. This story reminds me of similar stories of strife for people that live in a flood plain, then turn to the taxpayers for a handout when their house washes away. I don't get it.

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Friday, May 9 at 1:19 PM D wrote ...

We will be lucky at our farm if we can even plant this year.........hope they aren't counting their chickens before they are hatched, if it's only down 7% it will be a miracle.

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