date:Aug 17, 2012
The US corn crop, a key component of the US food supply and integral commodity for the foodservice industry, is an official disaster, said Barone, CEO of Fairfield, N.J.-based Market Vision Inc.
Last week the US Department of Agriculture confirmed that corn yields decreased to 123.4 bushels per acre from pre-drought levels of 166 bushels per acre, and with production cuts of 2.2 billion bushels, the situation is even worse than everyone thought, he added.
There has been a significant decline i