CBOT corn prices lost 1% last week

23.05.2017

Over the period under review (May 11-18), CBOT corn prices lost 0.9%. In the spot market, the US corn quotations remained unchanged, while Argentinean corn prices fell on average USD 1-2/MT, reports UkrAgroConsult.

As of May 14, the US farmers advanced in corn sowing to 71%, while market operators estimated on average 65%. Earlier, the sowing was complicated by humid weather. The seeding pace exceeded the five-year average for the reporting date – 72% (73% in 2016).

Despite the high exports of US corn, the reduction of CBOT futures was caused by the recent considerable devaluation of Brazilian currency against the US dollar, which could increase the competition from Brazil.

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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