CBOT corn prices decreased last week due to low US corn contracting


Over the period under review (November 23-30), CBOT corn prices decreased by 1.04%, reports UkrAgroConsult.

During November 16-23, the US corn contracting reached 599.2 KMT, which was 21% below the volume over the same week last season.

The underrun of actual shipments and contracted volumes of the US corn with delivery in the 2017/18 season increased to 27% (22 MMT, compared to 30.1 MMT). On November 23, actual shipments reached 7.5 MMT compared to 11.73 MMT (-36%).

According to preliminary data of the USDA, in spring 2018, corn planted area may increase to 91 million acres (90.4 million acres in 2017), but will not be higher than the record acreage of 2016 at 94 million acres.

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