Last Updated : 04 August 2012 at 17:00 IST
Global Corn prices surge on dry weather conditions
Prices of Corn (maize) have gained by about 15 per cent in the last few weeks in the global markets.
- Precious, base metals may trade mixed as upbeat US GDP bolsters Fed QE taper
Spot gold prices fell around 0.7 percent today taking cues from mixed global market sentiments. Also, decline in SPDR Gold holdings by 4 tonnes yesterday acted as negative factor.
- read more
Tanzania, East Africa’s largest cotton producer, is expected to produce 235825 tons of cott..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
CHICAGO(Commodity Online): Prices of Corn (maize) have gained by about 15 per cent in the last few weeks in the global markets.
The worst drought in the last five decades in US has badly affected the corn plants which led to a rise in corn futures in the global market.
Corn for delivery in December was quoted at $8.042 a bushel on the Chicago Board of Trade on Friday. A research firm has cut the US crop to 9.86 billion bushels, 30 per cent lower than initial estimates.
The demand for Indian corn has gained form destinations such as South-East Asia, Far-Eastern nations and the Gulf.
Even if enquiries have not fully realised into contracts, the commodity has gained just on trade sentiments.
The India Meteorological Department forecasting a 15-per-cent-deficient monsoon, the market sentiment has received further boost. Though maize is less water-intensive crop compared to rice, the lower water storage level and poor soil moisture are causes for concern.
- India Crude Oil remains bullish, Copper may trade positive bias
- World Coking Coal supply may remain stable in Dec 13: TSI
- Beat Gold bears with Long position in Gold ETF options
- US Crude Oil rises further on stockpiles drop, Gold falls after short covering rally
- The conflicting economic and religious views on Speculation and Money
- India Crude Oil gets support from fall in stockpiles, Copper sideways