COMMODITY PRICE INDEX.(grain and oilseeds)(Brief Article)(Statistical Data Included)
Economist (US), The, July, 2000
American farmers will harvest bumper crops this year, pushing prices for grain and oilseeds even lower than they are now. The US Department of Agriculture forecasts that soyabean output will reach an all-time high of 2.9 billion bushels (80m tonnes), an 11% rise over 1999. Maize production will be a near-record 10 billion bushels (254m tonnes).
Wheat output will decline by 3% over 1999, but the drop will be offset by higher production in the EU. Maize stocks are forecast to grow by 20% by autumn 2001; soyabean stocks will rise by 70%. The USDA reckons that average farm-gate prices this season could be the lowest for 14 years for wheat and maize, and the lowest for 28 years for soyabeans. Congress has given $20 billion in emergency aid to farmers in the past two...
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