Since July 2006, the price of corn has risen from $2.85 per bushel to $4.093 per bushel today on the Chicago Board of Trade. Why? Fuel ethanol. This is putting pressure on the price of one of our favorite beverages: milk!
That's right, milk, which experts say could top $4.50 a gallon in the Midwest (where the cows are), $5 in other parts of the country.
Before you ask, increases in bourbon prices have very little to do with the price of corn. They mostly are caused by demand outstripping supply.