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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (543)	7/15/2001 2:58:04 PM
From: craig crawford	Read Replies (2) of 1643

JULY 16, 2000 Rally in the Farm Belt More gains are likely for corn, soybean prices interactive.wsj.com By Cheryl Strauss Einhorn The long-depressed grain markets finally staged a strong rally last week, with corn trading at its loftiest price in more than a year and soybeans jumping to a six-month high. The rally comes amid forecasts for hot, dry weather in the Midwest and after the midweek release of a government report predicting that the U.S. harvest will be smaller this fall than had been expected. ........................................................................................................................... A wild card was introduced into the corn market at midweek: China. Though that nation has historically been a major exporter, on Wednesday it actually purchased a small quantity of corn from the U.S. -- for the first time since 1996, when that grain hit $5 a bushel. ............................................................................................................................. Fueled by outbreaks of foot-and-mouth and Mad Cow diseases, the European Union banned the feeding of meat-and-bone meal to animals earlier this year, leaving farmers with little choice but to turn to soybeans and their meal product for animal protein. In the U.S., similarly, demand for animal feed has been running at record levels as America's appetite for red meat has returned after years of decline.

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