Cereal prices fall as drought fears ease
Wednesday 21 July 2010
Cereal prices were lower on Tuesday as fears over a severe drought in the Northern Hemisphere, which had forced prices sharply higher, eased, traders said.
"The prospect of a severe dry spell has eased with forecasts for rain in US and West European growing regions," one trader said.
"At the same time, the harvest is progressing well," he added.
In the United States, this year's harvest was 69-percent complete as of Sunday, up from 63 percent a week earlier.
In France, the biggest cereals producer in the European Union, the harvest is also going well, with yields not so bad as feared, but concerns remain over Russian and East European production.
In mid-day trading, corn was slightly lower while maize slipped by between two and 4.50 euros in thin trading.
X Factor judge will appear in court later this month
Life & Style blogs
- 1 Gurdwaras-turned-food banks: Sikh temples are catering for rise in Britain’s hungry
- 2 Council bans use of word ‘Commie’ – but ‘fascist’ and ‘Nazi’ are fine
- 3 The man who made Femen: New film outs Victor Svyatski as the mastermind behind the protest group and its breast-baring stunts
- 4 The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
- 5 Mass murder in the Middle East is funded by our friends the Saudis
- < Previous
- Next >
Initially paid internship designed to lead to full-time job: Inspiring Interns...
£29999 - £35001 per annum + Benefits: Pro-Recruitment Group: Top 10 firm in L...
£30000 - £45000 per annum: Pro-Recruitment Group: This leading Top 10 practice...
£45000 per annum + Excellent benefits: Pro-Recruitment Group: Audit Senior - C...