Summary
THE prospects for arable farmers look more encouraging than for many years, judging from recent movements on the Chicago futures market. Inevitably what happens on the Chicago dealing floor is replicated in all of the major markets around the world. Currently US maize futures are at the highest level for ten years, and may go still higher, according to some analysts.
Part of the reason for higher maize prices, which is also pushing up the demand for wheat, is the huge expansion in ethanol production in the US. Soya bean futures have also moved up by around dollars 15 per tonne. This is in response to rising crude oil values and fears of further trouble in the Middle East and Iran.See the full content of this document
Extract
Rising Prices Go Against the Grain
The International Grains Council is forecasting that world wheat production for the 2007-8 season will be in the region of 623.7 million tonnes, th...
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