Massive cut in US corn area to boost prices -panel

Newswire

By Sam Nelson CHICAGO, March 31 (Reuters) - A shocking reduction in U.S. corn acreage estimated by the U.S. Department of Agriculture on Monday will give corn prices a huge boost, possibly to record highs, a CME Group panel said. A big rebound in estimated soybean and wheat area is expected to knock soybean and wheat futures prices sharply lower, the panel said. "Very seldom do you see a report that would give you limit-up new-crop corn and limit-down new-crop beans, but this report ...

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