Wheat and corn had very different futures in September: wheat futures went up by 5% due to Egypt returning to the market and buying, and corn futures decreased by 7% as a result of the drop in price of soy beans. Since soy beans can be used as a corn substitute in cattle feed, soy beans are being purchased instead of corn. Francisco Redruello, Senior Food Analyst at Euromonitor, also discusses sugar, cocoa and skim milk powder in his monthly roundup of soft commodities.
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