Corn Prices Could Hit $10 a Bushel If Bad Weather Stays
Corn prices could hit $10 a bushel this year, reports MarketWatch.
According to the report: “A large loss of acreage could slash U.S. corn production and push next season’s year-end stocks to the lowest level since just after World War II, some analysts said.” If bad weather continues in July and August, corn prices could rise to $10 a bushel, said Shawn Hackett, president of agriculture futures brokerage Hackett Financial Advisors.”
On Thursday, Jennifer Yousfi told Money Morning readers three ways to profit from record meat and dairy prices — both of which are closely connected to the price of corn.
The first is Tyson Foods (TSN). Although Tyson continues to struggle to make money with its domestic chicken business, Jennifer says the company is looking to capitalize the BRIC emerging market economies of Brazil, Russia, China and India.
Last week Tyson announced it had acquired a 51% stake in India’s Godrej Foods Ltd., which sells retail fresh chicken, chicken nuggets and patties — a joint venture the company says will generate $50 million in annual sales.
And Jennifer says Tyson’s shares have plenty of room to rebound… Last week they closed at $14.35 each, down almost 40% from their 12-month high.
Read on here for Jennifer’s full report on how to profit from high dairy and meat prices.