November 21, 2014

US corn futures increase due to potential rising demand for shipments


A possibility of rising demand for corn shipments from the US has caused the crop's futures to increase for the first time in a week, according to Bloomberg.

A 2.7% rise of corn futures for March 2015 deliveries has been reported in the Chicago Booard of Trade. The figure amounts close to US$3.8625/bushel.

The latest development comes as livestock feeding is undergoing a steady increase, said Shawn McCambridge, a senior grain analyst at Jefferies LLC. He added that exports have benefited from rising acquisitions by importers.

In the meantime, wheat futures for March 2015 deliveries have increased 2.1%, at US$5.525/bushel while soybean futures for January 2015 deliveries have risen 1.6%, at US$10.205/bushel.