U.S. corn futures may jump to between $7.75 and $8 per bushel after the October harvest as concerns surface that global supply and yields might be less than expected, according to futures broker Newedge USA LLC.

Corn is king, according to the broker, and futures have already gained 37% in the last year. At the same time, demand is rising and global stockpiles are projected to hit a five-year low at the end of 2011-2012.

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The U.S. grows about 37% of global output.