US corn drops to $3.99/bushel on financial woes

15 October 2008 17:54  [Source: ICIS news]

HOUSTON (ICIS news)--US corn prices dipped to $3.99/bushel (€2.91/bushel) in early trading, pressured by recession fears that gripped financial markets on Wednesday.

The front-month traded in a range of $3.98-4.06/bushel at the Chicago Board of Trade (CBOT), after opening 10 cents lower at $4.01/bushel.

US corn prices are down by about 50% from a peak of nearly $7.90/bushel in late June.

Corn is the main feedstock of the US ethanol industry.

($1 = €0.73)

For more on ethanol visit ICIS chemical intelligence
Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels

By: William Lemos
+1 713 525 2653

< previous article(ICIS Chemical Business podcast November 2, 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly