CBOT corn prices decreased 3% last week

14.11.2017

During the reporting week (November 02-09), CBOT corn prices decreased 2.57%. The US corn spot export prices (November delivery) lost USD 3/MT FOB, reports UkrAgroConsult.

The main CBOT bearish drivers were the following: November WASDE USDA report, and the improvement of weather conditions for increasing corn harvesting rates in the USA. The USDA experts raised average corn productivity rates in the USA to a new record of 175.4 bushels per acre (174.6 bushels per acre in 2016), which was much higher than market expectations. The forecast of corn production for this season was raised by 7.56 MMT to 370.29 MMT. World's corn ending stocks estimates were raised by 2.9 MMT to 203.86 MMT in the 2017/18 season.

 

Check up prices and enjoy free online charts on our website. Daily updated commodity exchange prices (CBOT, ASX, BCE, MATIF, WCE, LIFFE) and cash market quotations for wheat, corn, barley, soybean, sunflower and other agricultural commodities in Ukraine, Black Sea region and world are available in section "Prices and Futures".

 

UkrAgroConsult

 

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