Page 2 - Corn Supply News Today

>> glenn: last week i was out in chicago. for the day. i had a chance to talk to a trader at the chicago mercantile exchange. some stunning numbers he threw my way to show how high the price of food has risen and will possibly rise. let me show you the farm land we have devoted to corn. here it is. u.s. farmers plant 92.2 million-acres of corn this year. that is 4 million-acres more than we planted last year. meanwhile, our corn supply is nearing a 15-year low. why is that? why are we having pro...

Fund got together to discuss the biggest concerns. topping the list, food prices. the head of the world bank said this about food prices. >> this is the biggest threat today to the worlds poor. where we risk losing a generation. we are one shock away from a full-grown crisis. >> glenn: what could that one shock be? could it be japan? or the middle east? could it be lets say in the heartland we have tornadoes. what would that one shot be? id like them to be more specific. what does it mean, a ful...

Affected, growing two thirds of chinas total wheat production and if the drought continues, the corn supply could be hit. the country grows a fifth of the worlds corn. already high food prices could soar further. lets see if theres relief in sight for china. lets go to jen delgado. this is a depressingly familiar story these days, jen, isnt it? talking about the impact of extreme weather on food production and prices. whats it looking like for chinese wheat growers? >> its not looking very good ...