September 28, 2010

US wheat, corn, soy prices to rise

Global grain prices are likely to push up in Q4 due to concerns over yields, adverse weather in South America and new crop planting risks in Russia, Rabobank said Monday (Sep 27).

Rabobank said corn prices are likely to average around US$5.25 a bushel, up from US$4.16 per bushel in Q3.

Wheat prices are forecast to average US$7.0 a bushel, up from US$6.48 in the current quarter.

According to Rabobank's monthly report, the fourth quarter forecast for soy is US$10.50 a bushel compared with an average price of US$10.28 a bushel in the July-September quarter.