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Businessweek Archives

Corn Soup


In Business This Week: CLOSING BELL

CORN SOUP

Missouri farmer Roger Stock usually cheers a rise in corn prices. But this year, floods swamped his 1,200-acre farm. He has plenty of soggy company: On June 12, the Agriculture Dept. cut its corn-production estimate by 8%, to 7.9 billion bushels. The forecast sent December corn futures up 2%, to $2.85 a bushel; they were $2.62 a month ago. That's good news for farmers in states that escaped the rains. Notes Stock: "I guess they can go buy themselves a new pickup."EDITED BY KEITH H. HAMMONDS


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