Food Industry
Industry: Email Alert RSS FeedCBOT Corn Seen Stuck, More Downside Potential For Soybeans.
Resource News International, November, 2005
Byline: Dwayne Klassen, Resource News International
WINNIPEG, MB, Nov 18, 2005 (Resource News International via COMTEX) -- Corn futures at the Chicago Board of Trade (CBOT) appear to have found a near-term bottom and are likely to trade in a narrow range while there is further downside potential on the horizon for soybean values, according to an industry source.
"The large supply base for both commodities in the US will be a key factor in making sure neither one experiences any sort of major upside turn in the near future," a Canadian based broker who specializes in trading US markets, said.
Increasing worry about bird flu and the potential to further reduce demand for US soybeans was seen keeping CBOT soybean futures on the defensive, the...
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