Corn prices resume upward on positive market trends

Corn prices gained on the eve of the long weekend in the US. March US corn futures were up USD 0.04 per bushel, while Black Sea corn was up USD 2.75 a ton. The market is still keeping an eye on the condition of crops in South America. The market estimates that Iran bought 120,000 t of corn in the last tender, Barva Invest analysts say.

Ukrainian corn prices have risen on the back of positive trends on international markets.

Ukrainian wheat prices have remained practically unchanged, analysts add.

“Wheat prices ended unevenly on Friday. March Chicago futures fell by USD 0.01 per bushel. The price of European wheat rose by EUR 6.75 a ton amid another wave of reports on political tensions, while Black Sea wheat declined by USD 1.25 a ton. 95% of winter wheat in France is in good to excellent condition. China sold more than 500,000 t of wheat at state reserve auction,” the message reads.

Previously reported that the first corn crop was severely damaged by drought in Brazil. Corn yields in South America are anticipated to be lower.

Latifundist

Tags: corn, prices