Active sowing and favorable weather in the United States lower corn prices

2021-05-25 12:02:03
Machine translation
Active sowing and favorable weather in the United States lower corn prices

< span style="font-size:14px;">good corn sowing rates against the background of favorable weather in the United States increase pressure on corn quotes, especially the new crop.

 

< span style="font-size:14px;">in Brazil, light precipitation in the southern regions of second-crop corn cultivation has somewhat reduced the stress on crops, but in the state of Mato Grosso, which is the main producer, hot and dry weather persists, which worsens the prospects for the harvest.

 

< span style="font-size:14px;">precipitation, which has already passed in the US Corn Belt and is forecast for next week, remains the main factor of pressure on stock prices.

 

yesterday, July corn futures on the Chicago Stock Exchange fell 2%, but at the end of the session recovered to 2 258.6/ton, while December futures fell 1.1% to 2 212.6/ton. < / span> < / p>

 

< span style="font-size:14px;" > the market was supported by export data, for which USDA inspectors checked 1.728 million tons of corn for the week. In total, the United States exported 48.88 million tons of corn during the season out of the USDA forecast of 70.5 million tons.

 

< span style="font-size:14px;" > according to the USDA weekly crop report released after trading, as of May 23, 90% of the planned areas were sown with corn, compared to 87% last year and 80% on average over 5 years.

 

< span style="font-size:14px;">against the background of favorable weather, good sowing rates and high world prices for corn, farmers in the USA, Ukraine and Russia can increase the area of sowing this crop.

 

< span style="font-size:14px;" > in Ukraine, as of May 21, 4.9 million hectares of corn were sown, or 92% of the planned area. Heavy rains delay sowing, but replenish soil moisture reserves. In May, Ukraine exported 1.28 million tons of corn, and in general in the season – 19.8 million tons out of the projected 24 million tons.

 

< span style="font-size:14px;" > in Russia, 2.5 million hectares or 89.7% of the planned area are sown with corn, which is slightly lower than last year's pace.

 

< span style="font-size:14px;">on the Paris Euronext against the background of the end of sowing in France and the good condition of crops, June corn futures yesterday fell by 0.5 €/T to 254.25 €/t or або 310.8/t, and November – by 4.5 €/T to 204.75 €/t or 2 250.37/t.

 

in Ukraine, purchase prices for corn remain at a high level of 270-275 $/t or 8550-8600 UAH/t with delivery to the port, despite the reduction in wheat prices to 235-240 $/t. processors also maintain prices at a high level of 8300-8400 UAH/t with delivery to the plant, although wheat on the same basis can now be purchased for 7500 UAH/T.

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