Booming corn futures for Region 8 farmers - KAIT Jonesboro, AR - Region 8 News, weather, sports

Booming corn futures for Region 8 farmers

JONESBORO, AR (KAIT) - We're nearing the end of August, which means it corn-harvesting time for local Region 8 farmers.

The price of corn is at its highest point in nearly two years, which is good news for local farmers.

Roughly seventy percent of this year's corn yield is set aside for ethanol, surpassing grain for livestock for the first time ever.

Caraway farmer Clayton Miller says that corn is practically in everything we use.

"If you can find any kind of food product that doesn't have corn starch or corn syrup or something like that in there, then you've had to look pretty hard."

Miller is hopeful that the price for a bushel of corn continues to rise.

"We think it's going to get better. We're in our first field, our earliest variety. And I think as the year goes on, we're going to get into better and better corn. I'm hoping to hit that 200-220 bushel mark like we've been hitting. I'm not going to be dissatisfied with eight-dollar-per-bushel corn, however we'd like to see it get there. Like to see all commodity prices go up where you could farm whatever you want to and make as much money as possible."

To put things in perspective, it takes one bushel of corn to make around three gallons of ethanol.

Miller Farms has about 1,250 acres left to harvest, so they are hoping for continued dry weather for the next two weeks.

Copyright 2011 KAIT. All rights reserved.

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