CBOT corn prices decreased with weather as the main bearish factor

21.06.2017

During June 8-16, CBOT corn prices decreased 0.98%. Nevertheless, the monthly growth reached 4%, reports UkrAgroConsult.

The weather appeared to be the main bearish factor – the rains forecasted in producing regions of the Midwest should have a positive impact on corn conditions. The US agency Informa Economics raised the estimate of corn acreage in the USA in 2017 to 90.186 million acres from the expected in May 89.7 million acres (94 million acres in 2016).

The information on corn conditions worsening in the USA and EU hindered the further price reduction. By June 11, the share of crops in good and excellent conditions had decreased to 67% (68% a week before).

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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