Corn Board doesn't expect food price effect
LINCOLN, Neb. — Higher corn prices have been blamed this year for part of the increase in food prices.
Corn prices have dropped by about $2 per bushel since this spring. But the Nebraska Corn Board says it doesn’t expect to see much, if any, decrease in food prices because of it.
The Corn Board says energy prices and the cost of transportation play a much larger role in food prices than grain prices do.
The Corn Board’s executive director Don Hutchens says the food companies are trying to blame farmers for the increase in food costs when it’s the companies that are raising prices.
Corn prices have dropped by about $2 per bushel since this spring. But the Nebraska Corn Board says it doesn’t expect to see much, if any, decrease in food prices because of it.
The Corn Board says energy prices and the cost of transportation play a much larger role in food prices than grain prices do.
The Corn Board’s executive director Don Hutchens says the food companies are trying to blame farmers for the increase in food costs when it’s the companies that are raising prices.
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