"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

Graves: “Speculators Influencing Corn Prices”

July 6th, 2007 by mopns · No Comments

Audio: MO Congressman Sam Graves call with farmers and reporters, 9 min.
Audio: MO Congressman Sam Graves call with farmers and reporters, 9 min., MP3

By Julie Harker

A Midwest member of the House Ag Committee says high corn prices WILL come down. Congressman Sam Graves of Missouri says a lot of the rise in price is because of speculators in Chicago.

Graves says they’ve created a false supply scare, “And the fact is, we’re not consuming that much more. There are a lot of ethanol plants going up, yes. But the amount of corn that’s being diverted is really a pretty small percentage overall.”

Graves, a northwest Missouri farmer, says there’s likely going to be a bumper crop based on the great amount of corn that’s been put in the ground. With that, he says, corn prices will decline.

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  • 1 Thou Shalt Not Make Any Graves-n Comments « Countenance Blog // Jul 6, 2007 at 5:56 pm

    […] Missouri Political News Service: A Midwest member of the House Ag Committee says high corn prices WILL come down. Congressman Sam Graves of Missouri says a lot of the rise in price is because of speculators in Chicago. […]

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