Corn Seen Topping Wheat, Raising Tyson Costs, Helping Syngenta
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Corn may become costlier than wheat for the first time since 1984 as demand for livestock feed and ethanol grows, increasing expenses for Tyson Foods Inc. and boosting sales at Syngenta AG.
Futures will average a record $8 a bushel in the three months ending Sept. 30, more than the $7.70 a bushel estimated for wheat, said Abah Ofon, an agricultural commodity analyst at Standard Chartered Plc in Singapore. Corn will be 11 percent more expensive than wheat in three months, according to Goldman Sachs Group Inc. Corn in Chicago traded at $7.60, up 2.1 percent, at 3:21 p.m. Singapore time.