The October report USDA topple corn prices by 3.7%

the discrepancy between the analysts and experts USDA regarding acreage for harvest, yield and gross harvest of corn in the United States significantly affects the price.

In its October report, USDA area for harvest of corn in the United States decreased by 0.2 million acres to 81.8 million acres, while analysts had been estimated at 81.5 million acres.

the yield Forecast for U.S. experts Wasde increased by 0.2 bushel/acre to 168,4 bushels/acre, while analysts lowered it to $ 166,4 bushels/acre. And the estimate of gross collection reduced to 0.51 million tonnes to 350,01 MMT vs. average estimate of analysts in 346,7 million tons.

the report Data shocked traders, so the corn futures in Chicago fell by 3.7% to 350,6 $/t

in addition, the new report, the forecast of maize export from the US to 2019/20 Mr decreased with 52,07 to 48.26 million tons and the estimate for ending stocks - at 6.63 million tonnes Reduction in carryover stocks at the beginning of the season, to 8.5 million tonnes indicates an error experts USDA the forecast of production and consumption in the balance sheet of corn in the U.S. to 2018/19 Mr.

For this error was revised and the balance in 2019/20 Mr, in which the initial reserves were reduced by 5.5 million tonnes to million tonnes of 324.3 (341,3 million tons in 2018), the production estimate by 0.8 MMT to 1104 million tonnes (1123,22 million tons in 2018), forecast consumption by 2.26 million tonnes to 1125,49 million tonnes (1140,5 million tonnes in 2018) and ending stocks – 3.72 million tonnes to 302,55 million tons (324 million tons in 2018).

the Global balance of corn to 2019/20 MG was more intense in the previous two seasons, so any adjustments to the production will drastically change prices.

the Brazilian Agency CONAB published its first estimates of corn production in the country in 2019/20 Mr. Because of drought during sowing, the crop will be of 98.4 million tonnes, although USDA estimated at 101 million tons.

More on prices crushed export sales of corn from the US, who this week was only 284,4 thousand tons, well below expert expectations.

the price of corn in Ukraine, which rose slightly after the rise of the quotes in Chicago during the week, after the publication of the report will begin to decline, especially against the background of increasing offers of the new crop.