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.
- NMCE Rubber futures to consolidate around 17200-17300 levels, neutral trend
- On Thursday trade, July rubber rose to a high of 17320 Rs/qtl at 11.54 P.M IST and is expected to trade in a consolidation phase. Support is now seen at 17100, 17050 levels and resistance at 17380 & 17420, analyst said.
- read more
Germany’s producer price index has fallen more than expected in last month, official data s..
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.
- China tight manufacturing, interest rates drag Copper down
- NCDEX Turmeric may trade positive; MCX Cardamom with bearish bias
- India Gold imports a reason behind FDI thinking in defence, pharma and telecom?
- US markets nervous, Fed outcome eyed
- Indian Railways Commodity-wise freight income rises by 8.66% in April-May period Y/Y
- Copper witnessing a shift to permanently slower demand growth: Barclays