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Commodities  |  June 09, 2011 11:23:36

Reduction in global stocks of maize and the weak U.S. dollar, pushing the prices up again

Contrary to expectations from earlier this week when the commodity market with corn from the good humor prevailed favorable weather, which helped in part by U.S. farmers to catch up this year's planting, the price of this commodity again strengthened. It turned out that optimism was premature. Again, here showed great fear of a lack of corn in order to reduce global inventories. It declined by 17%, the highest since 1994. This situation is becoming serious, since the growth of maize prices are pushing up prices of other agricultural commodities. Of course this situation is also helped by the weak U.S. dollar, in which all agricultural commodities listed.

Today 09.06.2011 entered corn traded at the price USD/100bušlů 754.48. Trading did not initiate a slight decline, but during the morning hours passed again into the growing trend. At this point, already sells 100 bushel corn at the price of $ 766.10. So far it seems that commodity traders are waiting for further reports of the main agricultural areas of the USA.

Author: David Hasek (david.hasek @ xtb.cz)

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