WASHINGTON — A side effect of this rainy spring – corn prices are popping. They went up 6.2 percent this week, the biggest gain in 10 months, driven by fears the planting of this year’s crop could be delayed. Because of soaking rain and unseasonable cold – as of this past weekend – only five percent of the nation’s corn crop had been planted. But Brian Williams from Mississippi University told ABC News that there’s still time. “(corn planted up to May 1st, there is really not a big yield loss,” Williams said. Bruce Babcock at Iowa State told ABC that he’s downright optimistic. “The wet weather that the Midwest has been experiencing should lead to a bumper crop of corn and in fact the price of corn should be lower next year than it was this year,” he said. Last year, the concern was the brutal drought that seriously affected many parts of the Corn Belt.
Tuesday, April 30, 3 p.m.
