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A weaker U.S. dollar, which slumped to a 14-month low on Tuesday and makes dollar-priced commodities more attractive to foreign buyers, also contributed to stronger prices.
"We expected stronger prices for corn," he said.
We leave our 2040p target price unchanged as we believe that the higher royalties are largely offset by stronger prices.
He said the second half of 2016 would see stronger prices because "every storage tank and swimming pool" would be full of oil.
"We had hoped to shoot a bit higher," Mr. Cotter said, explaining that if the economy were stronger, prices would have been 15 to 20percentt greater.
The revelation comes as analysts predict the Reserve Bank could be forced to cut interest rates to 1% as it tries to engineer stronger prices and pull Australia out of a deflationary spiral.
Similar(50)
A stronger price was paid for Kenneth Noland's "Heat," (1958).
"We have slightly fuller planes and stronger pricing," said John Heimlich, the chief economist at the Air Transport Association.
Stronger price increases were also recorded for food - particularly some fruits - and household textiles.
(2) Continued strong demand in division B was reflected in increased volume and a stronger price structure.
However, corresponding stronger price competition between direct marketers could promote processes of concentration [18,25,38].
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com