CBOT corn prices were supported by weather factor last week


During May 18-26, CBOT corn prices increased slightly (+0.87%). In the spot market, the US and Argentine corn prices gained on average US 3/MT, reports UkrAgroConsult.

The weather factor was the major driver of price growth in Chicago. Rains and low air temperature in the Corncorn cme Belt of the USA can delay corn sowing completion. Corn fields may be reseeded in June, but this will have a negative impact on its yield. By May 21, corn sowing had been carried out at 84% of the intended area, which still corresponded to last year's sowing pace (84%), but was 1% behind the five-year average.

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