Thursday, October 20, 2005

Natural Gas Prices Take Toll on U.S. Agriculture

Stock Market News and Investment Information |
by Lisa Haarlander, Reuters -- 10/18/05
"Elevators use large amounts of natural gas in the fall to dry freshly harvested grain so it can be stored. Charging high fees for drying could cause farmers to take their crops to another elevator -- and deprive the elevator of revenue from storing and reselling the grain.
Spot prices for natural gas have more than doubled in the last year, rising to $11.92 per million British thermal units from $5.85 in the Chicago market. Natural gas futures on the New York Mercantile Exchange were nearly double year-ago levels at $13.33."