When food and water become scarce, the camel extracts energy from that mound of fat. In fact, the longer a camel goes without eating or drinking, the more visibly deflated its hump becomes. But give it adequate water and food, and camel humps plump up in a matter of days.
Estimates for this yearâs harvest and near-term supply outlook are trimmed. Updated July 10, 2015 4:03 p.m. Corn prices jumped to a one-year high after federal forecasters trimmed their estimate of this yearâs U.S. harvest and lowered their outlook for near-term supplies of the grain. Soybean prices also rose, buoyed by lower-than-expected forecasts for domestic stockpiles, while wheat prices were mixed.
With seed costs battling for the highest input, the U.S. farmer is being asked to pay more to grow crops for less of a return in 2014. Compared to a year ago, the corn market is down 40%, soybean prices are off 11% and wheat is down 26%. Yet, the costs of seed that the U.S. farmer paid (or is currently negotiating) for the 2014 growing season is not dropping, and balance sheets are beginning to show it.