Corn prices reacted to the USDA reports a decline in

From another USDA balance traders expected to reduce the consumption of corn on the background of unchanged production.

compared with the February report, the forecast of global corn production is raised 1.5 million tons due to the increase of the crop in India, whereas for Argentina and Brazil to assess the production left at the level of February.

the Forecast of world consumption of corn increased by 3.15 million tonnes, thus directly to China's 3 million tonnes despite the recent statements of experts on the reduction of consumption due to losses of livestock from ASF.

Due to the increasing consumption ending stocks of corn will decrease by 1.25 million tonnes to 308,5 million tonnes, which is 10% lower than the level of last season.

Due to the increase in forecast corn imports to the EU by 0.5 million tons to 21.5 million tons increased estimate of corn exports for Ukraine from 28.5 to 29 million tons For Argentina's export forecast was increased from 29 to 30 million tonnes, which from April will increase competition in world markets between domestic and Argentine corn.

After the collapse of prices on Thursday and, despite a bullish USDA report the corn futures in Chicago on Friday, recovered to 143,38 $/t on the data to reduce the forecast of corn exports from the United States by 2 million tons and increase ending stocks by the number, although at present the rate of exports higher than last year.

Forecast import of sorghum and barley to China reduced, which will lead to increased consumption of maize, but the assessment of the import of grain to China has not changed.

Ukraine had hoped to intensify the demand for corn from India and China, however these hopes were destroyed the increase of the production of India.

amid the decline in world prices has intensified South Korean refiners, which last month purchased 2.5 million tons of corn. Logistical problems in the US increase the chances for Ukrainian maize, which has already won several tenders, since unlike the us does not contain GMOs, what the processors are willing to pay a higher price.

South Korean KOCOPIA bought 60 thousand tons of Ukrainian corn, non-GMO at a price of 207 USD/t in April-may. For deliveries in September, buyers were offered 190-191 $/t CFR, although recently for delivery in July-August paid 195-196 $/t