Jack Bouroudjian, CEO of Bull and Bear Partners: Food and commodities prices set to soar further

Thursday, 23 August 2012 15:14

Jack Bouroudjian, CEO of Bull and Bear Partners, says the price of food commodities is likely to rise much further. “We can see maybe another 25 to 30 percent to the upside. The way it feels we can see soybeans at 20 dollars, we can see corn well over 10 dollars. It’s very difficult for traders when we start to see the market breaking out and getting into a parabolic move to look for a high. But you know what, I can see another 25 to 30 percent just based off of the opinion of the farm community here in the States. And again, when you couple that with what is going on around the rest of the world and you hear what the Glencores of the world are saying then I think we have to accept that as maybe fact.”

 

Courtesy of RT.com

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