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However, most of the harvest is done, and corn yields have been better than expected. Since the corn harvest is ongoing in Argentina, production estimates for the 2006/07 crop are preliminary. Corn production estimates for 2006/07 in Argentina and Brazil were boosted this month, increasing global coarse grains production. However, the main-season crop harvest is complete, and reported record yields have exceeded expectations. These factors were enough to more than offset some adverse...

However, corn is also more vulnerable to bad weather than other crops. And with total rainfall down almost 14 inches from the annual average, Parker, and the many other farmers who invested heavily in corn, are feeling the heat. Riggins said he won't have official statistics regarding the drought's effect on local corn crops until after harvests in July and August, but based on seeing the fields and talking with farmers, he said it doesn't look good. At this point, Riggins said it's most...

He said corn is a primary feed ingredient for meat-producing animals, used as a sweetener in processed food, as a source of cooking oils and in cereals. Some of this year's corn crop, planted in mid-May, did not produce its first sign of a stalk until after the recent rainfall. The demand for corn has prompted many farmers in South Georgia to switch their crop to corn instead of growing peanuts and cotton. It's corn that is being blamed for much of the increase in producer and, ultimately,...

Generally, the growth of the ethanol industry likely will reduce the amount of corn available for exports or livestock feed. However, the higher corn prices may be negative for some of the livestock producers that will have to bid for corn against ethanol plants and foreign exports. In a short crop year, the potential is for very strong corn prices as ethanol plants and other corn-dependent industries bid for limited stocks. If there is a short crop from either a drought or flooding, it is...