Grain Prices Soar as U.S. Slashes Outlook – WSJ.com

Agricultural Jan 12, 2011 No Comments

Grain prices soared after the U.S. Department of Agriculture made another deep cut in its outlook for global supplies.

Corn and soybean futures surged the most they’re allowed to per exchange limits, hitting fresh two-year highs. Corn for March delivery, the most-active contract, recently traded up 27¼ cents, or 4.5% higher, while soybean futures for January delivery, traded up 66¼ cents, or 4.9% higher. Corn and soybeans hit a trading limit of 30 cents and 70 cents, respectively, earlier in the day on the Chicago Board of Trade.

via Grain Prices Soar as U.S. Slashes Outlook – WSJ.com.

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.