United States - World's Largest Corn Exporter Importing Corn this Year?


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Global corn markets were abuzz Monday with talk that U.S. livestock firms may have concluded a deal to import a record 1 million metric tons of Brazilian corn later this year...As the worst drought in about 25 years does daily damage to what was once expected to be a record crop, speculation of the world’s biggest corn exporter turning importer — at least in some regions — has grown...

U.S. corn prices have surged about 30 percent over the past three weeks, nearing an all-time high of $7.99-3/4 per bushel on Monday as a severe drought decimated the crop...The drought has hit at a time when a bumper crop was needed this fall to bolster razor-thin stocks that are projected to be the smallest in 16 years by summer’s end...

U.S. firms to import 1 million metric tons of Brazilian corn | Latest BioFuels News Feeds and Information Relating to Renewable Energy Production and Use brought to you by BioFuelsChat

Prices are still low at the stores, I don't know how long they will stay that way as corn effects the price of pretty much everything. Wheat and soybean crops have also suffered and prices are rising for these also, but not as drastically, I read that wheat has gone up about 15 percent so far.

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"Centered in the heart of farm belt, the firm handled agricultural futures accounts for a number of clients who grow corn, soybeans and cotton."

"PFGBest revealed to clients on Monday that their money had been frozen and that they would (not) be allowed to withdraw funds or make new trades until further notice."

PFGBest scandal deals farmers another blow after MF Global | Reuters

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