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Cereal prices shoot back up in the air
Posted on 2009-Jun-2 at 11:03 - Post Comment
Following a strong price erosion over the entire year 2008, prices across the markets for agricultural commodities since the beginning of this year back in the air force shot. Especially in the grain markets since the beginning of the year - similar to the markets for metal and energy commodities - strong price increases from 30 to 40 per cent noted. For the turnaround in the agricultural market were, among others, adverse weather conditions and the resulting fear of poor harvests caused.
So is the price of wheat - the most important cereals - in the futures exchanges in Chicago from low at around $ 4.50 per bushel (35.239 liters, equivalent) to $ 6.20 in the amount of shooting. This is the highest level since early this year. However, for a bushel of wheat on the commodity futures exchanges, nor the beginning of 2008 a price of up to $ 13.34 have been paid. For the most recent price increase for wheat, corn, soybeans and rice are not as current estimates of the American Department of Agriculture (USDA) to be causal. The Ministry has for all cereals together for the 2009/2010 season, only a slight global supply surplus of around 30 million tonnes is forecast. This is about as tight cushion against bad harvests.
In the current season 2008/2009, a surplus of 76 million tonnes is expected. The experts of the Washington Department expect that the demand for corn, soybeans and wheat in the coming season will reach new records. Serves recalled cereals such as wheat, corn and soybeans not only as a raw material for the production of foodstuffs, but increasingly also as a base for the production of bioenergy. On the demand side, the continued high demand of the People's Republic of China. The Department of Commerce in Beijing had most recently said that the cereal import requirement for the foreseeable future will remain high. To the long-term rising grain demand to secure Beijing has access to agricultural land in Africa and Latin America secured.
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