Plunging corn prices raise fears of a farmland price bust
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On Friday, April 8, the commodity markets worry, the U.S. Department of Agriculture could release new projections showing that by the end of August U.S. corn stocks will equal just four days of supply. The USDA could cut its projections to 525 to 575 million bushels. The all-time end of season inventory low was 426 million bushels in August 1996.
Finally a Chinese bid for Potash?
This week or next will see a bid from China for Potash Corp. of Saskatchewan (POT), Canada’s Globe and Mail is reporting. The newspaper’s sources say Beijing is now deciding which of the proposed bids from China’s state-owned companies it should back. Pending Chinese national holidays beginning on October 1 argue for a decision this week or next.
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