Report on crops in the US has fallen off of corn prices

After the publication of the report USDA balances on March 1 and crop acreage in the new season, corn futures in Chicago fell by 4.8% to and 140.3 $/t

Despite traders ' expectations within 91.2 million acres, the forecast of sowing areas of corn for the United States increased by 4% to 92.8 million acres, compared with 89.1 million acres last season.

corn Stocks on March 1 amounted to 218,5 million tonnes compared to 225,85 million tons on that date in 2018, although traders predicted their level 211,7 mln t. it is not clear the experts had fully considered the consequences of the floods in the Midwest USA, which in addition to crop losses could lead to a reduction in acreage.

a Record number of short positions on the background for a bear report led to significant gains for one side and losses for the other.

the July corn futures traded at 141,33 $/t in December – for 148 $/t

South Korean feed manufacturer Nonghyup Feed Inc., Friday purchased the tender two consignments of maize 192,65 $/t CFR and 191,49 $/t CFR for delivery in September and October.

corn Prices in Ukraine may fall behind Chicago, though still remain stable. The results of the first round of the presidential election, where the incumbent received half the amount of votes than the comic Zelensky, though, and was able to get through to the second round, will lead to a rise in the dollar on the interbank market and increase hryvnia prices that offsets the decline in export prices.

domestic Demand for corn remains high, although producers are holding back sales in expectation of price growth in the result of the election. Prices in Porto are 161-163 $/t or 5200-5250 UAH/t.