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Prices rallied by $5.75 a bushel, or by nearly 30pc, at one point from Friday's close. […]Panic over commodity shortages continues to emerge as the dominant factor in the global markets, with both end user and speculative buyers of corn, soybean, cotton, rice and a host of other commodities taking note of what's happening in the wheat pit. […]
The net result on Monday was new all-time record high prices for corn, soybeans and wheat on the same day […].
Along that line, commodity traders are attempting to hoard land on which to produce their respective commodities by bidding up prices in an acres war.