Actually, it sounds like corn prices is more of an excuse. Read what Newmark had to say... They are seeing an improving US economy as an "opportunity" to raise prices,
I guess they have figured they have already watered down the liquor as much as they can, so now they are stuck raising prices "any chance they get""We are watching it very closely and any chance we get to do pricing, we're doing it. At the moment we're doing it in targeted ways, places where we feel we have strength and where those opportunities present themselves, or whether there's cost structures that we'd like to recoup," Newlands said.
Source: Reuters - http://www.reuters.com/article/2012/...82C14220120313