July 01, 2013 at 17:52 PM EDT
Flower Foods, ADM Steady Despite Dodgy Corn Prices
Corn prices posted a strong week last week, then dived to a 32-month low Monday after a surprise increase in planting estimates. The U.S. Department of Agriculture estimated farmers had planted 97.4 million acres of corn so far this year, about 2 million more than generally expected by analysts. The report also said corn supplies were below expectations and at their tightest June level in 16 years. In spite of tight supply, estimates for
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