25 July, 2012
NEW YORK (Commodity Online): Global Corn prices are likely to surge further high as the late rains in the drought affected regions in U.S. is not likely to help recover crop loss,as the damages done by dry and hot weather is irreversible, but may aid soybean production.
While, the demand for corn in the global market is rising especially from the feed industry. The high corn price has also raised the demand for wheat in the global market.
In Chicago Board of Trade (CBOT), for September delivery, corn rose to 798 4/8 cents per bushel and wheat surged to 894 cents per bushel on Wednesday.
Meanwhile, the rains is likely to help the recover soybean production to an extend. U.S is the largest producer and exporter of soybean and corn in the world.
In CBOT, Soybean for September delivery traded at 1681 cents per bushel on 25th July.
NEW YORK (Commodity Online): Global Corn prices are likely to surge further high as the late rains in the drought affected regions in U.S. is not likely to help recover crop loss,as the damages done by dry and hot weather is irreversible, but may aid soybean production.
While, the demand for corn in the global market is rising especially from the feed industry. The high corn price has also raised the demand for wheat in the global market.
In Chicago Board of Trade (CBOT), for September delivery, corn rose to 798 4/8 cents per bushel and wheat surged to 894 cents per bushel on Wednesday.
Meanwhile, the rains is likely to help the recover soybean production to an extend. U.S is the largest producer and exporter of soybean and corn in the world.
In CBOT, Soybean for September delivery traded at 1681 cents per bushel on 25th July.
No comments:
Post a Comment