Financial Updates

After a distressful start of the growing season which spread - out fears of food shortage & huge economic losses, the United State’s most important crop is now on the way for a great harvest, according to the government.

The Agriculture Department is forecasting the second highest corn production on record with production of 12.3 billion bushels, and about 600 million bushels more than it had expected earlier in the summer.

“We dodged a bullet,” told Bill Nelson, a Wachovia grain analyst.

April`s cool weather the downpours of May gave way to widespread flooding in June, and prospects seemed pathetic for corn. Corn has long been the most important feed used in the meat production, and in recent years it has got more importance as ethanol made from corn has become a government- assigned gasoline additive...For complete article see nytimes