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CHICAGO CORN PRICES AT 2 WEEK HIGHER ON POSSIBILITY OF LOWER - vyaparsampark.com
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Chicago corn futures edged higher to close to 2 weeks highest level due to concern over lower production in Brazil. During last week corn market dropped to 3 years low. In India strong demand for maize (corn) tightened supplies and prices have been increased. Live stock feed sector’s corn demand in India is expected to grow by 2 million tons during this year, according to the news sources. Nithi Aayog member Ramesh chand stressed on the need to increse maize yeilds to meet the demand for ethenol production. In view of fall in sugarcane production, the government is encouraging for more grain based ethenol production especially from maize according to the news sources.