Corn May Reach Record on Supply ‘Nervousness,’ Newedge Says
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Corn may advance to a record as “nervousness” returns about global supply and harvest yields in the U.S., the biggest shipper, may be less than expected, according to Newedge USA LLC, the world’s biggest futures broker.
Futures may rally after the U.S. harvest in October, jumping to $7.75 to $8 a bushel, as importers fight for supplies and the market contends with a third year of global deficit, said Dan Cekander, director for grain research at Newedge, the top broker by customer accounts.