Next year will be "the year of maize" as rising demand for biofuels and larger production of rival crops see the grain lead the way in agricultural commodity markets, Dan Basse, president of Ag Resource, predicted at this week's Global Grain conference in Geneva. Last year, Basse forecast an oilseed-led year in 2009, as tight South American supplies pushed prices upwards, but in 2010 maize looks likely to be the leader, based on rising Asian and world ethanol demand. World maize valuations have bottomed, he claimed, and will trade in a wide range until March. "US Gulf FOB prices will hold between $150 and $155 a tonne, with upside potential to $190/t in March/May," he said.
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