Monday, October 6, 2008

Deflation: Corn Slumps 6%

The ethanol producers are trading at bankruptcy levels. VSE down 19%, PEIX set a new all time low at $1.00, even ADM is back to 2005 prices.
From MarketWatch:
Corn futures slumped more than 6% Monday to the lowest level in more than 10 months, as the U.S.'s $700 billion bailout plan to stabilize the financial market failed to calm investors.
Corn for December delivery tumbled 29 cents, or 6.4%, to $4.25 a bushel on the Chicago Board of Trade. It dropped to $4.24 earlier, the lowest since Nov. 23...MORE