Sign up for free newsletter

 

Corn

Rising corn prices not likely to cause food crisis comments UCITS commodity fund spokesman

Sun, 17/10/2010 - 20:04

Poor harvests in the US this year are causing some industry commentators to predict a second food crisis and repeat of the one seen in 2007-8, with the US Department of Agriculture (USDA) warning last week that US corn stocks could likely fall to a 14-year low. Unsurprisingly, soft commodity prices have witnessed a sharp upturn, with the Dow Jones UBS Soybean Oil Subindex having climbed 0.9 per cent to 156.9 over the last five days. Corn prices hit a two-year high on Tuesday: USD5.8425 per contract according to the Chicago Board of Trade. But as reported in Citywire Global this week, Connor Noonan of commodities-specialists Castlestone Management, who run the Aliquot Agriculture UCITS fund, does not believe the current crisis will mirror 2007-8, citing falling rice prices as a key indicator. He said that the two-year corn price high was almost certainly “fundamentally-driven not speculator-driven”. He added that he expects to see continued high demand amongst consumers for soya beans and is now looking towards live cattle as a possible benefactor of rising corn prices. Aliquot was one of the first actively managed commodity index futures funds when it launched in September 2008. The Dublin-domiciled fund uses State Street Fund Services for administration, State Street Custodial Services for custodial and Deloitte & Touche for auditing. 


Subscribe to free daily newsletter
latestjobs
Senior Windows Systems Administrator

Mon, 30 Mar 2015 00:00:00 GMT

Big Data Infrastructure Engineer - Hadoop/Hive

Mon, 30 Mar 2015 00:00:00 GMT

M&A Associate IBD - Los Angeles

Mon, 30 Mar 2015 00:00:00 GMT

events
5 days 17 hours from now - New Jersey
1 week 2 days from now - Zurich
1 week 5 days from now - New York
1 week 5 days from now - San Francisco
specialreports