The corn futures in Chicago fell by 4.5%

the corn Futures in Chicago fell for the second day in a row amid increasing tensions with China and the release new balance USDA.

Today at 12:00 in the United States introduced a 25% duty on Chinese goods worth $ 200 billion, because yesterday the talks between the delegations of China and the United States had no results.

because of this, prices for soybeans fell by 2.7% to 298,6 $/ton, corn – 4.5% of 139.2 to $/t

prices pressure reduction of corn exports from USA to of 287, 5 thousand tons, which is 58.6% lower than the level last year, and an increase in forecast corn production in Brazil.

Experts Conab increased its estimate of the corn crop in Brazil of 1.2 million tonnes to 95,2 million t that on 18% exceeds an indicator of last MG, although some experts predict it at 100 million tons.

According to AgRural, the corn crop in 2018/19 MG will reach a record 99.2 million tons, which greatly exceeds the period of 80.7 million tonnes due to prolonged drought. Acreage of corn second crop increased by 6.4%, and heavy sediments, contribute to obtaining a good harvest.

In Argentina, with 1.9 million hectares or 32.2% of the area harvested 18.3 million tonnes of corn with a yield of 9.62 t/ha.

current balance USDA can be significantly increased forecast corn production in South America, the abridged assessment of exports for the U.S. and the increased rate carryover stocks. Despite the significant delay planting of corn in the U.S. experts predict the increase in yield of 3%.

Long weekend in Ukraine reduced offers of corn, so the prices in the port for may supplies grew from 155 to 156-157 $/t or 4900-4950 UAH/t

Despite strong demand for corn from China and its revitalization by the Indian buyers, the price of corn in June and July will decline due to falling prices for feed wheat next harvest.