COLLEGE STATION, TX — Multiple US industries are feeling the ripple effect of increased corn prices.
Texas cash corn prices at eight dollars a bushel in the first week of May, up from six dollars in early March.
The spiking demand for corn now impacting other crops like wheat and soybeans. The ripple continues into industries such as fuel and agriculture feed.
Meanwhile, experts at Texas A&M AgriLife expect growers to respond by planting more corn.
"One signal that these high market prices are sending to farmers all over the world is that we want more of it and so when we see high prices for corn and soybeans wheat, cotton or whatever it might be that is a signal to produce more" shared Mark Welch, grain marketing economist at Texas A&M Agrilife."The information that we have as preliminary estimates for the 2021 crop year and beyond is that is exactly what farmers intend to do"
U.S corn supplies are at their lowest number since 2013.
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