Corn Top Commodity Pick at Morgan Stanley as Supply Plunges

Corn may beat all other commodities in the first half of next year, surging as much as 34 percent to a record as shrinking supply from the U.S. stokes competition among meat and ethanol producers, according to Morgan Stanley.

“There’s a growing probability that you see corn trade up to the $9 to $10 level,” Hussein Allidina, the New York-based head of commodities research, said in an interview. “Demand needs to decrease in order to preserve what we have.”