If you live in the U.S. Midwest, as I do, there is one fact that is perfectly clear - you are in farm country. Specifically, this is corn and soybean country.
Every year, come October and November its harvest time. This year it is also perfectly clear that the lousy weather we're having - as in large quantities of rain - is holding back the harvest.This should not be news to anyone, as it has been widely reported on.
Even today there was an article in the Wall Street Journal about it. The bad weather has delayed the harvest and made corn prices spike 10% this month. The real question is whether or not (no pun intended) the corn will come in OK in the end and prices will drop.
Nobody seems to be quite sure and there is much speculation, so right now you can get someone to agree with just about any theory out there. The fact is that the rate of corn harvest is far behind what it usually is at this time of the year. Read the full blog.
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