Grain, Soybean Prices Shoot Higher Amid Heat

EDITOR'S NOTE: Before you go, "Ho hum, grain prices higher, big deal." <BIG yawn> Give me two minutes. Stan and I have monitored weather and "Earth changes" for quite a few years. One result common to all disasters is soaring food prices.

On our own website, by mid-April this year, we had posted a warning to folks to purchase food then, before the looming drought shot prices higher. Now they're already starting. Those of you who read our Threat Watch pages daily, saw the photo of cattle drying from dehydration. Their once green grazing fields are now tan dirt. If you missed it, here it is again.

Other articles from NOAA and like agencies say this drought may be prolonged. Between drought and looming terrorism - this is an even greater time to store food, water and medical supplies - much more so than pre-Y2K. I am simply astounded that so few people see the need to prepare. Do it while opportunity still presents. Do it now.

Holly Deyo

July 1, 2002

CHICAGO (AP) - Sizzling temperatures in prime growing regions sent grain and soybean futures sharply higher Monday in early dealings on the Chicago Board of Trade.

Corn led the gainers, adding more than 2 percent in value. Readings in the mid- to upper 90s across the corn belt over the weekend depleted the soil of moisture, increasing chances of crop stress.

Soybeans rose only slightly less, with the searing conditions expected to be reflected soon in lower crop ratings.

Wheat took a similar jump upward on hot-weather concerns, particularly with the crop in the critical heading stage of reproduction.

Wheat for September delivery rose 3 1/2 cents to $3.16 1/2 a bushel; December corn rose 6 cents to $2.49 1/2 a bushel; December oats rose 4 cents to $1.63 a bushel; November soybeans rose 9 1/4 cents to $5.16 a bushel.

Beef and pork futures advanced in early activity on the Chicago Mercantile Exchange.

August live cattle rose .82 cent to 64.37 cents a pound; August feeder cattle rose .32 cent to 75.82 cents a pound; August lean hogs rose 1.75 cent to 48.47 cents a pound; August pork bellies rose the limit 3 cents to 64.75 cents a pound.

http://ap.tbo.com/ap/breaking/MGA4A65J43D.html