CBOT corn prices lowered by 2% last week

15.08.2017

During August 03-10, CBOT corn prices lowered by 1.7%, reports UkrAgroConsult.

In the spot market, Brazilian and Argentinean corn export prices (August delivery) strengthened by USD 1-2/MT, while the US corn quotations lost USD 1/MT.

The new USDA report was also bearish for the corn market. The forecast of the US corn ending stocks for the 2017/18 season was not lowered as much as the market operators expected (-1.32 MMT) – to 57.74 MMT. Stocks estimates for the current season remained unchanged. Besides, the market expected more significant downward adjustment for the US corn yield in the 2017/18 season, given the negative impact of weather conditions.

The USDA raised their corn production estimate for Brazil by 1.5 MMT to 98.5 MMT. Brazilian farmers gathered corn from 75% of the second-crop corn acreage.

corn cme

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

 

Readers choice: TOP-5 articles of the month by UkrAgroConsult