Increased demand expected from meat, food, fuel processors
Corn futures for March delivery rose 0.9% on December 6, to $5.965 a bushel, up from a two-month low on speculation that prices that have fallen 20% since September 1 will increase demand from meat, food and fuel processors.
Similarly, soybean futures for January delivery rose 0.3%, to $11.295 a bushel. “Prices have fallen so much since September that there is a little bit of buying beginning to surface” from U.S. fuel and meat producers, said Dave Marshall, a farm marketing adviser for Toay Commodity Futures Group LLC. Corn prices dropped 6% in November, while soybeans dropped 7.1%.