You ain’t seen nothing yet — analyst predicts $9 corn is on its way

AgResource says stocks are perilously tight 
and if more weather woes hit, 
“we don’t know how high is high”

Reuters – U.S. corn prices could rise to a record $9 a bushel in the next six months as global grain markets continue to feel the effects of severe weather disruptions, says Chicago-based consultancy AgResource Co. The worst drought in half a century in the U.S., the world’s biggest corn grower and exporter, triggered a

Argentina cuts wheat output view due to floods

Argentina’s government cut this season’s wheat output forecast, citing three months of heavy rains that started in August and flooded key parts of the Pampas Farm Belt, the Agriculture Ministry said Nov. 22. The South American grains powerhouse is seen producing 11.1 million tonnes of wheat in the 2012-13 crop year, down from the government’s


CWB looks to cash market to attract more wheat

Sign-up deadlines for CWB’s pool programs have come and gone, but the company is still looking for more grain. “We’ve been able to get some really good sales for the tonnes that we have now, and movement has been really good,” said Gord Flaten, CWB’s vice-president of grain procurement. “So looking to the rest of



Italy to launch durum wheat futures contract

Reuters / Borsa Italiana is set to launch Europe’s first futures market for durum wheat in November to cater to demand from the continent’s Italian-led pasta makers, but building sufficient trading volumes will be a challenge, traders say. Grain futures generally take a long time to attract a large trading base, and the minimal volumes

Canola futures see downward price action

Canola futures on the ICE Canada platform experienced some weakness during the week ended November 9 with the bearishly construed USDA supply-demand balance tables for soybeans encouraging some of the downward price action. A larger-than-anticipated U.S. soyoil ending stocks estimate from the USDA added to the bearish sentiment in canola. The unloading of positions by