Corn Climbs, Maintaining Premium Over Wheat, on Planting Delays
This article is for subscribers only.
Corn rose for a second day in Chicago, maintaining the most-active contract’s premium over wheat, on speculation the U.S. corn harvest will be smaller than estimated because of late planting.
The corn crop faces “potential for shortfall” because of the delays, Goldman Sachs Group Inc. said in a report on June 6. Seeding may be as much as 2 million acres less than “original intentions,” resulting in a decline of as much as 250 million bushels, the bank said. Sowing was held up by wet weather in the U.S., the world’s biggest exporter of the grain.