Here in Indy we're only "dry", being down on annual rainfall by about four inches already, but not too many counties north of here, it's already officially a "moderate drought", and that has an impact:
Corn futures are trading 12 to 14 cents higher this morning. Prices shot higher out of the gate on Sunday night, as weather concerns continue to intensify in the Corn Belt. The 30-day rainfall totals for a good chunk of the Corn Belt have been less than 50% of normal, and the above normal temps and below normal precip remain in the forecast into the 8-14 day window.And remember, kids, corn isn't just for breakfast anymore! It does everything from feeding your burgers to fattening your bacon to diluting your petrol. When corn goes up, practically everything goes with it.