Corn prices got a new factors supporting

Favorable for the development of the maize crop in the EU, USA and Ukraine, weather conditions in may and June lowered the price of corn, however, revised data on sown areas in the United States launched the quotes up.

the September corn futures in the U.S. last week rose by 9% to 137,5 $/t for data on the reduction in sowing areas of maize in the US and lower forecast production with a record 406 million tons.

In the July USDA report that will publish this week, will be provided with updated forecasts of corn production in the United States and Ukraine, which may be slightly reduced due to the good condition of crops in both countries.

Rise in price of corn in the United States zeroed the import duty on maize in the EU, however, the November futures on Euronext grain for the week grew by only 2% to 163,75 €/t or of 184.8 $/t

the corn Crops in the EU are in good condition, so the June report experts Coceral estimated the grain harvest in the EU-27 in 2020/21 MG at 66.8 million tonnes, 1.9 million tonnes higher than the figure recorded 2019/20 Mr.

the Demand for corn old crop in the EU is gradually decreasing. During the week it was imported 246 thousand tons, but only in the season of 19.46 million tons of corn, which is 18% lower than the level of the previous MG.

In Ukraine, the price of corn of the old crop on the background of zero import duties in the EU and rising stock prices rose in port before 174-175 $/ton, but deals are almost absent.

the price of domestic corn new crop with delivery in October-November rose to 150-151 $/t. there have been increased sales of the new crop in the backdrop of the magnificent state of the crops.

In the corn belt of the United States next week would be dominated by hot weather with temperatures of 32-34 degrees, but in Ukraine the temperature will be in the normal range, up to 30 degrees, and occasionally will go thunderstorms. Weather in the United States and expectations the updated balance from the USDA this week to support speculative growth of prices for corn in the United States.