December 2012 corn futures reached a high of $6.735 on
August, 31, 2011, declined to a low of $5.23 on March 30, 2012, and are
currently trading near $5.40. The steady decline in prices over the past few
months reflects, in part, expectations for a large 2012 U.S. corn crop and some
re-building of inventories during the year ahead.
Prospects for a large increase in corn acreage support
expectations for more abundant stocks next year, but opinions about the
magnitude of the build-up vary considerably. Since the end of the 2012-13
marketing year is 16 months away, uncertainty will abound for several more
months. <Read More>
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