16:17, 04.09.2009 — Новости
автор: OilWorld.Ru

DJ China''s Corn Prices To Rise Further Next Year -Exec (ENG)


BEIJING (Dow Jones)--China's corn prices are likely to rise further next year
on declining output and rising demand, a senior industry participant said
Friday.

  The country's total corn output in 2009 is expected to fall 19.97 million
metric tons or 12% to 145.94 million tons due to an ongoing serious drought, Li
Qiang, chairman of Shanghai JCI, a commodities consultancy firm, said during a
conference.

  Meanwhile, with a recovery in the economy, demand for corn for use in
feedmeal will rise in 2010, tightening supply, he said.

  Corn futures traded on the DCE are likely to break through CNY1,800/ton soon
as a result and could rise above CNY1,850 if there is an early frost to further
affect output, he added.

  On the Dalian Commodity Exchange Friday, the benchmark May 2010 corn contract
settled down 0.2% at CNY1,748/ton.


  -Zheng Xiaolu contributed to this story, Dow Jones Newswires; (8610) 6588
5848; tracy.zheng@dowjones.com


  

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