Demand for corn is growing, but it is not reflected in the prices

2018-12-14 13:24:17
Machine translation
Demand for corn is growing, but it is not reflected in the prices

the corn Futures in Chicago fell yesterday amid low export results for the week. According to the report of USDA, export sales of US corn for the week amounted to 903тыс tons, 23.3% less than last week, but 4% more than a year ago.

 

Also on the corn market there were hearings about possible purchase by China of 5 million tons of U.S. corn in the framework of the concluded trade agreement between the US and China. But traders were in no hurry to react to this information, since the rumors about the purchase of 5 million tons of soybeans has been reflected only in real purchases this week China a total of 1.1 million tons of U.S. soybeans.

 

But the prices in the cash corn market was beginning to grow, especially for delivery in February-March.

 

 

wheat Prices on the European stock exchange Euronext are continuing to rise since the beginning of the week adding 3,25 Euro traded at 177евро /tone or 201,07$/t, the reason for the growth was the data of the last busy world balance of corn where uncertainty persists according balances and production in China.

 

 

Due to the record crop and lower prices, export of Ukrainian maize is progressing rapidly, and already exported of 7.26 million tons of corn by 3.37 million tons more than at the same date last year.

 

the Purchase price of Ukrainian corn remain at 154-155$/t delivery port in December, but noted a slowdown in sales from the manufacturers who hold the sale in the hope of a significant price increase in the new year.

 

Traders will show a more active demand for corn with a February delivery, at prices at 158-160$/t, while prices for January fell slightly to the level 156-157$/t

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