CBOT corn prices gained 0.6% due to high US corn contracting


Over the period under review (February 02-09) CBOT corn prices gained 0.54%, reports UkrAgroConsult.

CBOT futures increased due to persistently high US corn contracting, in particular large corn lot shipment to Japan last week and market operators’ expectations of February USDA report publication.

The revision of the USDA domestic corn consumption estimate in the USA, in particular for ethanol production was also positive for the market. This adjustment allowed to cut corn ending stocks forecast to 58.9 MMT (59.82 MMT in the January forecast).

CBOT corn prices

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