US maize prices close to production

THE US maize boom could be over, with prices having dropped sharply, falling close to the cost of production.

Cash prices per bushel average about $3.74 (€2.79), and agronomists calculate the break-even price at $3.40.

In July, maize futures at the Chicago Board of Trade were close to $8 per bushel, but have fallen to almost $4, after a drop of 30% in recent weeks.