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August 1, 2012

Drought Economics: USDA Reports Corn Crop Worsening

48% of the corn crop in the United States is in poor or worse condition, according to the weekly USDA crop survey. This represents the 9th consecutive week of declining corn conditions. This is where the laws of supply and demand step in. Lower corn supply is being reflected in the price of corn hitting all-time highs over $8.

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