Quotes for corn continues to go down after a spike the day before

yesterday's Sharp drop in oil prices by 5% accelerated the decline in corn futures, which are cheaper after a significant increase last week.

within two trading session the may corn futures in Chicago fell 1.8% to 217,7 $/t, however, to further reduce their retained the increase in the export.

According to the USDA, during the week were inspected for export of 1.91 million tons of corn, which is 11% higher than the previous week primarily due to the previously sold to China shipments. In General, for 7 months 2020/21 MG inspected for export 35.6 million tons of corn, which is 54% of the predicted USDA 66 million tonnes to reach the forward-looking indicators, exporters need each week to ship 1.38 million MT of corn that looks real enough.

In the corn belt of the USA warm weather 17-20 ^owith small periodic rainfall will speed up the corn. As of April 4, corn planted 2% of the area, which corresponds to the average 5-year average.

In Ukraine after some minor adjustments on Thursday, the price of maize in the port fell to 244-247 $/t or 7750-7900 UAH/t pressure reduction in the price of wheat to the level 220-227 $/t or 7000-7250 UAH/t in the port and 6800-6900 UAH/t with delivery to the mill.

Processors offering for corn 7400-7550 UAH/t with delivery to the plant, increasing competition from exporters.

For the week, the export of corn increased by 43% to 722 million tonnes, but only in the season reached 16.6 million tons, which is 30% below last year's pace. Until the end of the season you need to export of 7.4 million tons of corn, or 570 thousand tons weekly that it's nearly impossible to do, given the high bid prices and lower export demand.