Better Hold On to Your Hat

Think the planting of corn crops can't get any worse? Hold on to your hats. A lot depends on the ability to replant those crops particularly in places like Iowa, which are now starting to see water levels recede.  The question now is how successful those corn crops will be, the level of risk or contamination and what the future holds for everything from feed prices, ethanol prices and finally the prices you pay for the food you purchase at the supermarket every day.

First up, take a look at an interview I did this morning with Craig Floss, CEO of the Iowa Corn Association, the state that grows the most corn in the union. He says hold on just one second, most of the crops will be fine and the talk of toxic soil is a falacy. In part two, I talked to Steve Meyer, the president of Paragon Economics who says there is an "unprecedented" corn and soybean shortage and that it isn't going to get any better. He points to the release of the USDA Acreage Report due out on June 30 for some further insight into what's ahead. Take a look.