On Friday, corn prices have fallen almost 5%

the corn Futures on the stock exchange in Chicago on Friday tumbled nearly 5% as traders took profits after the rapid growth of prices in the last month.

Following them has significantly decreased the price of corn in Ukraine. It is expected that traders in the port to offer for corn not more 240-245 $/t or 8200-8250 UAH/t

the March futures on corn dropped below the psychological level of $5/bushel to 4.95 $/bushel or 194,5 $/t on data about the completion of sowing of maize and improving the condition of crops after the rains in Argentina, and forecasts a significant increase in sowing areas of maize in the United States.

the Market did not support the data a slight increase in ethanol production for the week and a good amount of weekly export sales, which amounted to 1.44 million tonnes, which corresponds to the level of the previous week. However, actual exports declined for the week by 40% to 886,6 thousand tons.

According to the Association of EIA, ethanol production increased by 4 thousand barrels/day to 945 thousand barrels/day, which is 10% inferior to decoratinga level.

New Bush administration began to actively fight against covid-19 and returned to the travel restrictions from Europe, Brazil and South Africa, to prevent the ingress of new strains coronavirus. Internal displacement of citizens in the USA may also somewhat limit that will reduce in the near future fuel consumption.

According to the exchange BAGE, in Argentina, corn planted 93.4% of the planned area, which is 1.3% below last year's pace. The stage of pollination were 61% of crops, although last year on this date was 71%. The number of crops in good or excellent condition for the week rose from 19% to 28%, and precipitation next week will further improve the condition of crops.

today In Ukraine, purchasing prices for corn will continue to fall, which will increase sales. Last week traders bought the necessary for export in February of the party, so now I can lower the prices to levels which will be able to sell corn on the world market in March and April, when markets will push the strengthening competition from Argentina and a possible increase in supply from the United States as a result of expansion of sowing areas.

the Agency the IHS Markit/Informa increased compared to the December report, the forecast of sowing areas of corn in the U.S. in 2021, with up to 91,1 94,2 million acres, 3.4 million acres will exceed the level of 2020.

In Ukraine the acreage of corn will also likely increase due to the reduction of the area under rapeseed and wheat due to autumn drought.