Belfast Telegraph

Wednesday 16 April 2014

Crop damage forces corn prices to increase

Corn traders are bullish for a fifth consecutive week on speculation that dry weather in South America is damaging crops, boosting demand for supplies at a time when stockpiles are predicted to shrink to a 16-year low.

Nineteen of 25 traders surveyed by Bloomberg expect corn prices to advance next week.

Argentina is the world's biggest corn shipper after the US.