CHICAGO (Reuters) - Chicago Board of Trade corn and soybean futures prices should stay historically high this year due to strong demand for food, exports and biofuel production, senior executives from Informa Economics said Monday.
Scott Richman, senior vice president with Memphis-based Informa, told the Reuters Global Agricultural and Biofuel Summit from Chicago that new-crop December corn could climb to $5.50 to $6 this spring due to strong demand for exports, livestock feed and corn-based ethanol production.
CBOT November soybean futures were seen trading in $12.75-$13.10 range during 2008 as U.S. soybean stocks were shrinking after a short 2007 U.S. soybean crop, said Juan Sacoto, Informa Economics senior vice president, during the summit from Chicago.
(Reporting by Christine Stebbins)
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