Corn and soybean futures will reach all-time highs in 2008, says exec; corn to reach as high as $6 per bushel

In Illinois, a senior vice president with Memphis-based Informa said that Chicago Board of Trade corn and soybean futures prices will remain at or near all-time highs in 2008 due to continued demand pressure for domestic food, exports and biofuels. Scott Richman said at the Reuters Global Agricultural and Biofuel Summit that he expects December corn to reach as high as $6 this spring, and soybean futures to trade in the $12.75-$13.10 range.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

US corn yields to 161.9 bushels per acre, from 153.9 last year

In Washington, the USDA released the September 11th World Agricultural Supply and Demand Estimate, and projected that US corn production will reach 13 billion bushels, based on average yields of 161.9...

US corn prices reach $6.43 on weather concerns as farmers mull replanting to recover from rains

Bad weather in the US Midwest has pushed corn futures to an all-time high of $6.43 per bushel, up 4.3 percent on Friday, based on what farmers are calling the worst weather since 1993. Replanting corn...

Corn, ethanol futures stabilize after weeks-long freefall

In Illinois, corn and ethanol prices have stabilized after a significant series of falls that have made ethanol economics more difficult, while demonstrating the weak link between food prices and biof...

Corn, soy prices jump; corn reaches 12-year high as oil crosses $100 barrier on Nigerian violence

The March contract for corn rose to a 12-year high of $4.62 per bushel, while soybean jumped to $12.48 per bushel. The rises were attributed to the rise in oil prices to over $100 per barrel, blamed i...

Brazil expecting record soybean harvest as global corn prices fall

In Brazil, Bloomberg is reporting that Brazil is looking at a record soybean harvest after US corn prices have plunged, dampening enthusiasm for planting maize. Soybean prices have dropped 5.5 perc...

US 2008 corn crop expected to be second-largest ever, despite weather; soybean crop up 9 percent over 2007

The USDA reduced its 2008 corn harvest projections to 12.02 billion bushels, down from 12.08 billion initially anticipated by the agency. However, the crop will still be the nation's second-largest ev...