Rice Jumps to Record, Corn Near High as Demand Outpaces Supply | G.O.O.D

Mountain House Freeze-Dried Food « Lenders cutting back on credit, Bank warns Bush Administration Memo Says Fourth Amendment Does Not Apply To Military Operations Within U.S. » Apr 03 2008 Rice Jumps to Record, Corn Near High as Demand Outpaces Supply Posted by: Joshuah in Agriculture, tags: Commodities From Bloomberg.com: Worldwide Rice climbed to a record and corn traded near its highest ever on speculation the 3 percent annual increase in global demand for cereals will outstrip supply as governments curb exports to prevent protests. Rice, the staple food for about 3 billion people, rose 2.4 percent in Chicago trading today after doubling in the past year. Soybeans advanced for the third day and wheat gained. Crop supply has been reduced by drought in countries including Canada and Australia and a U.S. freeze followed by excessive rain last year. “A lot of what we’re seeing at the moment is not related to production, but the fact that a number of countries are implementing trade restrictions,” said Darren Cooper, a senior economist at the International Grains Council in London. Technorati Tags: rice, corn, famine, economics, Commodities This entry was posted on Thursday, April 3rd, 2008 at 7:21 am and is filed under Agriculture. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. Leave a Reply You must be logged in to post a comment. Login »
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Creative Commons Attribution 3.0 United States

Creative Commons Attribution 3.0 United States