* 2015 oil price forecast in the high value of higher than 28% in 2010
Reuters, London, November 17 - --- Wednesday the price of wheat and corn Reuters survey shows food price crisis, the new wave of speculation that may have gone too far, which means that by 2015 the average price of materials rose only modestly, not to achieve this year's high point.
In addition, the Food and Agriculture Organization (FAO, FAO) on Wednesday released the latest report on agricultural prospects of the new wheat could make up for reduced production of wheat this year, but the food shortage will remain a threat.
The survey estimated a five-year time period as to hold in the volatile market, longer-term trend. Survey shows that in 2015 inflation-adjusted price of feed corn and wheat is lower than the high of this year, but will be higher soybean prices . Survey results do not support the widely expected surge in the price situation.
Jump in oil prices, partly due to the 2007/2008 food crisis in some countries. Today poor Russian wheat production, coupled with demand from China rose, giving rise to concerns about food safety, and promote high grain prices rose for several years.
Survey shows that prices of agricultural products or will rally behind the oil prices. Oil prices in July 2008 was 147 U.S. dollars per barrel hit a record high above this year, arrived in November 2010 high point of $ 88.63.
French bank (Societe Generale) Emmanuel Jayet agricultural research director, said, "I expect major and 2015, output growth is a reasonable price below current levels." He also estimated that the future prices of agricultural products will be more frequent gains.
13 of 2015, a Reuters poll results highlight the agricultural price uncertainty. Corn and wheat is lower than estimated in the 2010 high point, but the estimated height of about 12% of soybean, three feed grain prices are per bushel $ 5.5, 7 U.S. dollars and 14.9 dollars.
Chicago Board of Trade (CBOT) corn futures prices hit a peak on Nov. 9 $ 6.05 per bushel, was in August 2008 since the highest level in recent months, while wheat futures hit 6 August this year, the $ 8.41 level for the 2008 In August the highest in recent months since.
Soybean futures prices up to 12 November 3.37-3 / 4 of U.S. dollars, since September 2008 the highest in recent months.
Food and Agriculture Organization (FAO, FAO) on Wednesday cut global cereal output in 2010 forecast, due in part to Russia faced a hundred years of severe drought, climate scientists say that the future will be more frequent extreme weather of an example .
China's demand for grains and oilseeds rose, despite the release of stocks by the Chinese authorities to suppress the price, the price retracement of the past week.
U.S. analyst AgResource said on Wednesday, mainly from the growing demand for grain in China, or would boost U.S. grain futures prices in the next few months, far exceeding the current level.
Sharp rise in oil prices ** **
To suppress the longer-term rise in food prices, the need to increase production. The increase in production from the unit of production can be increased, for example sub-Saharan Africa; You can also expand the planting area by, say, Brazil.
An association of oil and agricultural products, agricultural products is a result of fuel oil and natural gas is used to produce fertilizer.
16 in a survey median forecast shows oil prices, oil prices for the $ 113.5 in 2015 compared to 2010 high point rose 28%, also higher than the International Energy Agency (IEA) released last week on behalf of oil prices in 2015 estimated value of USD 101-108 per barrel.
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