Corn Surges on Short Supply

Filed in AT T, Brazil, commodities, New Gold, o, South African Gold, ubs by on February 10, 2011 0 Comments

Filed under: International Markets , China , Brazil , Market Matters , Economic Data , Commodities , Agriculture March corn futures jumped 24.25 cents a bushel on Wednesday to $6.98. Corn contracts have risen 97% since June. You may be wondering why all this activity in the corn market in the middle of winter. The answer lies in a USDA report that said corn supplies are dangerously low. In fact, they are near the record low set 15 years ago. What that means is that the corn stocks we have must last until our harvest starts in mid summer. Of the 12.4 billion bushels harvested last fall, we will have only 675 million bushels by Aug 31.To add more fuel to the problem, this new report is 9% lower than the USDA”s January projection, as reported in the Wall Street Journal (subscription required). Continue reading Corn Surges on Short Supply Corn Surges on Short Supply originally appeared on BloggingStocks on Thu, 10 Feb 2011 17:50:00 EST. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments

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Corn Surges on Short Supply

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