U.S. corn stockpiles in the 2011-2012 marketing year will fall to 20.3 million metric tons, the lowest level in 16 years, and prices will rise 9 percent in six months, according to Goldman Sachs.
Corn futures have already declined 11 percent in the last year, and may drop to $5.25 per bushel at the end of 2012. “Corn prices will remain high relative to other crops in coming months in order to secure sufficient acreage gains in the U.S. to help rebuild U.S. inventories,” said New York-based analyst Damien Courvalin.
Soybean futures have dropped 15 percent in the last year and wheat has dropped 26 percent, according to the U.S. Department of Agriculture.
Plan will phase out growth-promoting use of medically important antibiotics in livestock, poultry
Senior notes to be used to finance acquisition of Vion Ingredients
World output expected down in 2014/2015, will rise annually after that
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