Posted AT 7:28 AM EST on 09/05/08
U.S. rice futures soar 5%
LONDON — U.S. rice futures soared around 5 per cent on Friday boosted by prospects of reduced output from cyclone-devastated Myanmar, while corn climbed to a record high as excessive rains slowed U.S. plantings.
“Supply worries have intensified with the Myanmar cyclone and the market is likely to continue to rise and probably test its record highs soon,” a Seoul trader said.
U.S.
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