The worst drought in years only managed to bring this issue down to .30..
There is speculation that the U.S. may be headed for a record 100 million acres of corn planted which in turn could give us a bumper crop in 2013..With all the negativity baked into cake one can only imagine the upswing in PEIX's share price once we start getting positive crop reports..We are adding more shares at these levels...Spring is near and growth is clear....
Global weather change has reshaped America's farming landscape.
The wide difference between corn estimates was the result of some forecasters failing to realize that the corn belt is moving north. Drought was recorded in the traditional corn growing states, however the final crop was larger than anticipated due to a large corn crop in the nontraditional states.
If the weather pattern breaks we could see a glut in corn supplies that will lingerie for quite some time.