Wednesday, July 18, 2012

Dry Spell

Corn yield estimates are sinking like stones. Commodity Weather Group (CWG) on Wednesday said more than half of the Midwest's corn and soybean growing area will continue to encounter severe stress over the next week due to continued dryness in the central and southwestern Midwest.

The TV Talking Heads have been sounding the alarm since late last week: "Americans ya better get ready to pay extra for everything, because everything is connected to king corn." Perhaps we should consider moving to Asia, where the emphasis is on rice, and there's not much demand for corn syrup?

A Reuters poll projected on Tuesday that U.S. corn production has shrunk 7 percent from the government's recently downgraded estimate, with a seemingly ever-worsening drought expected to cause even more damage before month-end. Those who follow the markets speculate that corn may rally to a record $8.50 a bushel.

Although the dying corn crop is one of the top stories of the drought that is gripping much of the nation, a major problem facing dairy and beef cattle farmers is the lack of hay they need to feed their animals.

See also: (Condi) Rice and Corn

Anthony Weiner is back making new headlines - first on NY1 [VIDEO] and then in People Magazine. The latter is featuring a photograph of Weiner with wife Huma and their baby boy. The print edition will be on newsstands later Thursday evening. And when he was asked by The Wall St. Journal if he was thinking about running for Mayor of NYC, Weiner backed away. Wonder what Gennette Cordova has been doing?

In DC Republican Senator John McCain took to the US Senate floor today to defend Weiner's wife Huma Abedin against unsubstantiated allegations that her family has ties to Egypt's Muslim Brotherhood. He said Abedin, the daughter of immigrants, represents the best about America. He said the attacks from Republican Rep. Michele Bachmann reflect ignorance and defame the spirit of the nation. McCain didn't call out Bachmann by name - she made the allegations in a letter to another lawmaker. Abedin has been a constant presence at Hillary Clinton's side, working for her when Clinton was a New York senator and presidential candidate.

Closer to home, there's an excellent interview online with the Mayor of Hudson, explaining why that city had to kick the Frugary Boat Club off the land. It's a nice capper to a report I filed on Tuesday.

Word today from NYRA - The New York Racing Association - that for the first time ever, free wireless internet will be available at Saratoga Race Course. The high capacity Wi-Fi access will be available beginning on Opening Day, Friday, July 20th. Of course, there is a MONEY angle: “Our Wi-Fi network introduces a new FastBet Mobile platform for on-track wagering at Saratoga Race Course. We are excited to provide this additional convenience for fans who wish to place wagers on mobile devices through one of the most advanced wireless networks available,” said NYRA President and COO Ellen McClain. “We also encourage track patrons to utilize our network to engage in social media activities by sharing their day at the race experience with friends and family.”

I can imagine the tweets now - “Just bet $7 on Old Psychedelic!” to which I might reply “Hope he hits the finish line before the glue factory.”

And maybe you heard that Chelsea Clinton and her husband have been house-hunting in Columbia County? There may be something to that...
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