Crop Prices Tumble as Japan Earthquake Threatens to Erode Demand – Bloomberg.com

Commodities Mar 11, 2011 No Comments

Corn, wheat, soybean and rice futures tumbled after Japan was struck by its largest earthquake on record, threatening to curb demand from the Asian country, a major importer of U.S. crops.

Japan, the largest buyer of U.S. corn, is checking ports and grain depots for damage after an 8.9-magnitude earthquake and a tsunami that engulfed towns on the northern coast, the Ministry of Agriculture, Forestry and Fisheries said. Farmland was flooded with burning debris in some areas as the tidal surge swept inland, images from state broadcaster NHK showed.

via Crop Prices Tumble as Japan Earthquake Threatens to Erode Demand – Bloomberg.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.