The price of corn falls: food price explosion may not occur

Despite the drought the price of corn is falling, if the trend continues, the price of food and ethanol may reduce.

In the last two weeks the price of corn is decreasing. Another positive process that the oil price may reduce as well, and this may limit the production of ethanol in the coming months which is also a major digestive corn industry. The price of corn may be moderated to 650 USD cents, from the previous levels of 700-800 cents. (origo-radar)