Corn prices on the CBOT are falling in anticipation of a large supply of the new crop
CBOT corn fell over June 20-26. Over the week, corn price fell by 62.2 cents to 409.4 USc/bu.
US export commitments have already surpassed USDA projections — the sign is supportive, but overshadowed by expectations of a large US and global new crop.
Adding to the pressure, Brazil’s second corn crop was revised up by a massive 10 M mt — a surprise that reinforces global oversupply fears. The harvest is still ongoing in South America, but its weight on global prices is already being felt.
More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea & Danube Grain Market” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!
Start using analytical data and increase your efficiency now!
Register to get your demo access: http://agrisupp.com/en/register/1
Read also
Romania proposes joint NATO command to protect the Black Sea
Drought in India threatens sugar and biofuel production
Record sunseed harvest in Russia threatens to drive down prices in Kazakhstan
Corn drying costs in Ukraine could exceed the value of the grain at current prices
Oilseeds remain the only profitable segment of crop production in Russia
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon