Corn, the most produced and consumed commodity in the world, recorded a total global production of 1.07bn tonnes in 2017. Nigeria is currently ranked the 14th largest producer in the world, producing 7.1mn tonnes, compared to its potential capacity of 13.41mn tonnes.
Oil price jumps 1.47% to $65.70 for the first time in 2015 after an explosion in New York city. The shut down of Forties pipeline (550,000bpd) in the UK, due to a widening crack, also supported the spike in price.
Attached is a synopsis of the commodities market for the week
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