Almost 19 years in the making, Maharashtra’s Assembly, the largest populated state in India, passed the Maharashtra Animal Preservation Bill, restricting cattle slaughter in the western region of the country. The Bill, which was first introduced in 1995, and recently became law after President Pranab Mukherjee gave his approval.
Traders cited technical buying as boosting corn futures Tuesday. The grain markets proved surprisingly strong Tuesday, especially in the absence of supportive news. Wire service sourced cited technical factors and bargain hunting for the corn rise, which seemed doubly impressive in the face of today’s equity market losses. May corn futures closed up 3.0 cents at $3.91/bushel Tuesday, while December rose 3.25 to $4.165.
By William W. Wilson, North Dakota State University Extension
After going through a long period of relative stability in the world grain markets, there have been some major interventions in the past few years. The combined impacts of these interventions have resulted in more volatile markets and production. Most of these have occurred in the former Soviet Union (FSU), but some of the actions by China also have had drastic impacts.