It is likely that other companies may do the same, but remains to be seen
What does this mean?
Numerous companies that rely on corn products [Coca-Cola (corn starch for soda), Proctor and Gamble (Pringles), Sara Lee etc.] will not be receiving their corn quota.
Because corn-products are abundant in so many product lines, there will be an overlying affect on much of the agro market
Corn prices which are now at the seven dollar mark will shoot up to $9 within the next 2 weeks and we could possibly see $13
All dairy products will climb in price due to the rising costs of food for livestock
Ethanol continues to dwindle corn supply
Iowa alone has lost millions of acres of corn
It is unlikely farmers will meet the short 1-2 week corn planting deadline- June 20th
Farmers are beginning to use more orange peels and other pectin sources for feed
Pectin prices have thus shot up which has had an effect on jelly and jams etc.