Commodity Corner

Views on commodities and energy

Crop scouts bond over corn yields, long car trips

Photo

Pro Farmer promises nothing to scouts on its annual Midwest Crop Tour but hard work, long days and the chance to get really dirty. For most, it does not sound like the best way to spend a week in mid-August.

But the tour attracts a group of regulars who come back every year to gauge the potential of corn and soybeans around the region as well as reconnect with people they met on previous tours.

“I am still interested in what the crops are doing and we learn a lot,” said Rodney Frick, an Illinois farmer on his fourth crop tour.  “But it is also about the friendships we form.”

 

 

 

Frick joined his first tour in 2005 after getting back into farming full time following 12 years working construction. He has come back every year since, although this year he will have to cut out a little bit early to attend his daughter’s wedding.Corn storage barn in Illinois

Americans lament higher gasoline prices

Photo

With the summer driving season, under way, American drivers are once again feeling the impact of higher gasoline prices on their wallets. Read the full story here. Martin Hogarty, a chauffeur from the Bronx, interviewed near a gasoline station on 46th St. and 10th Avenue near Times Square in Manhattan this week, said he’s paying double what he used to pay for gasoline to fill up the car he uses for his chauffeuring business, a GMC Yukon sports utility vehicle. Gasoline prices at the station stood at $2.77 a gallon.

For those who’ve decided to invest in more fuel efficient cars, however, the choice is now paying off. Jose Ferro, a cab driver who was also filling up at the 46th St. station began leasing a hybrid taxi about eight weeks ago said the higher leasing fee is already paying off as gasoline prices climb higher.

Gasoline spikes above forecast for summer high

Photo

us-gasoline-price

While the summer driving season has been underway for only two weeks, gasoline prices have already blown expert forecasts for highs for the summer.

Average prices at the pump on Monday were $2.62 a gallon, according to AAA, up 16 percent from just a month ago, and over the $2.50 a gallon high that AAA had forecast for the entire summer. Last week, AAA spokesman Geoff Sundstrom said the group revised its forecast for the summer high to $2.75 a gallon.