According to a recent Reuters article, U.S. wheat futures continue to rise thanks to global demand while corn slides as United States growers are expected to harvest a record crop.
For the second straight day, and eighth out of eleven sessions, wheat futures have risen on the Chicago Board of Trade, led by strong global demand headed by China. The increased Chinese demand for wheat has been spurred by adverse weather conditions that damaged as much as 16% of the country’s crop in May and June, boosting demand for U.S. supplies.
Luke Mathews, commodities strategist at the Commonwealth Bank of Australia, says about crop demand in the article, “We continue to see solid imports of wheat into the Chinese market. The corn market has underperformed wheat in the last couple of weeks.”
While wheat demand has continued to climb, the corn market has started going the opposite direction. Corn eased on Monday, nearing a six-week low as the market remained under pressure from record harvesting predictions in the United States.
The China National Grain and Oils Information Center increased its projections for Chinese import demand to 7.5 million metric tons from 6.5 million, according to Reuters. If this number is realized, it would represent the highest figure of imports for China in a decade.
Wheat futures continue to climb, fueled by global demand led by the Chinese market. Corn futures have steadily declined, nearing a six-week low due to the expected record harvest in the United States according to the article.
Saskia's Blog 
The demand for U.S. wheat has increased significantly this season, mainly due to the increased Chinese demand. It has increased due to the local weather changes that occurred in May/June of this year. This ultimately damaged approximately 16% of its crops, hindering the Chinese farmers from meeting their countries demand for the produce. Therefore, this year’s projections, according to the China National Grain and Oils Information Center, for the Chinese import are that they are to increase from 6.5 million to 7.5 million (highest figure in a decade). On the other hand, the corn market in the U.S. has decreased, this showing that the demand for corn has also decreased.
Overall, the increase in demand for wheat and decrease in demand for corn shows the opportunity costs citizens have to make, as they only have so much money to spend and therefore have to decide whether to spend more on corn or wheat.
Good article. However, the cause of the decline in corn is the expected bumper harvest (surplus). How can this be shown on a diagram? More demand supply analysis and less basic application is needed. See guidlelines http://jamesmulli.wordpress.com/economics-year-1/ you score 3