Strong demand supports the price of corn
on Friday in Chicago March corn futures rose 0.5% to 139.4 $/t, for the third time in the last half of the year exceeded the average 50 day price level.
the Main driver of growth rates was the results of weekly export sales, which reached the second largest in the 2017/18 season increased to 1.89 million tons.
the volume of corn exports from the U.S. last week fell by 25.9% to 659,71 thousand tons, which is 28.9% lower than in the corresponding week of last year.
If the export of corn during 7 subsequent weeks will remain on the five-year average level, the probability is 38% meet the USDA export forecast and the end of the season to reach the planned targets.
contribute to global corn prices weather conditions in Argentina, where the lack of precipitation can degrade the yield. Experts of the stock exchange of Buenos Aires assess the condition only 12% of the crop as good to excellent, whereas a year ago at this time, there were 33.4 per cent.
In Ukraine, the demand price for corn has risen at the end of the week in the port to 156 $/t or 5200 UAH/t. One reason for the rising prices was the delay in transport of grain to ports by cars, due to the powerful snowfalls throughout the country.