Grain prices to surge in early 2013, then retreat-Rabobank

Thursday, November 29, 2012
By Paul Martin
Wed Nov 28, 2012

* Tight supply to send grain prices higher in Q1 2013 -bank

* Rising prices will slow demand, encourage production

* CBOT corn seen at $6 a bushel in Q4 13, wheat at $7

CHICAGO, Nov 28 (Reuters) – Grain prices will climb in the first half of 2013 and then beat a retreat as production recovers from weather disasters and creates a global surplus, Rabobank said on Wednesday.

Corn and soybean prices soared to record highs during the summer as the worst U.S. drought in more than 50 years devastated crops and tightened supplies.

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