Argentina gradually slows down the export of corn

the Increase in maize exports by Argentina and Brazil in 2019 sharply increased competition on the world market and led to lower prices for American and Ukrainian corn in the fall of 2019.

Brazil has increased the export of corn from 24 million tonnes in 2017/18 MG to 42 million tonnes in 2019/20 Mr.

Experts Bolsa de Comercio de Rosario predict that in 2019/20 MG Argentina exported a record 37.2 million tons of corn that is 65.3% higher than the figure recorded 2018/19 Mr and 43% - an indicator 2017/18 MG with the previous record of 26 million tons In the report USDA February exports were estimated at 36 million tons.

during the March 1, 2019 – 31 Jan 2020 Argentina exported 35.5 million tons of corn, and in February, according to the schedule of port shipments, and exports 1.7 million tons.

Argentine farmers over the last week realized 833 thousand tons of corn, which is 23% less than the 1,08 million tons sold during this period last year. The share of newly harvested corn for delivery in April this amounts to 284 thousand tonnes, which is 78% higher than the corresponding figure last year.

Weather in Argentina contributes to the development of crops, and buyers prefer Argentine corn, which is 4-10 $/t cheaper than Ukrainian or American.

In Ukraine corn prices remain at 180-182 $/t FOB for shipments in March-April, while U.S. corn offered at 174 $/t FOB US Gulf, and Argentine and Brazilian – 170 $/t FOB.

the corn Futures in Chicago fell to 147,8 $/t under pressure from lower oil prices.

the Market has supported the news of the purchase of the largest South Korean manufacturer of food party of optional origin corn for June delivery at the price 207,7-208,95 $/t C&F, while delivery in March, April contractualise at 210-215 $/t C&F.

coronavirus the Epidemic reduces the demand for corn in Asia in the coming months will increase pressure on prices.