CBOT corn prices strengthened last week supported by US weather


Over the period under review (September 21-28), CBOT corn prices strengthened 0.63%. In the spot market, the US corn prices gained USD 3/MT, Argentinean corn quotations increased by USD 1/MT, while Brazilian corn prices remained unchanged.

The weather supported CBOT prices - dry and hot weather persisted in the Corn Belt of the USA. This situation was observed after a period of shortage of effective temperatures, which prevented the timely development of crops and provoked a corn harvesting delay. By September 24, the US farmers had gathered corn from 11% of the intended area (14% in 2016, 17% - the five-year average).

China increased corn imports, mainly from the USA and Ukraine, which was also positive for the market, reports UkrAgroConsult.

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