The data of the USDA report again coincided with the forecasts of analysts, so the price of maize increased by almost 8%

the discrepancy between the data of the USDA report and preliminary forecasts of analysts has led to a speculative jump in prices for soybeans, wheat and corn.

Yesterday on the Chicago CBOT soybean futures rose 5%,wheat by 3.6% and maize by 7.8% to 228,4 $/t

In comparison with the previous report, the estimation of area under corn in the United States decreased from 92 million acres to 91.1 million acres, or 36.9 million hectares, which is 1% higher than last year, while analysts predicted their level 93,1 million acres.

Recall that last year in the March report, the experts USDA predicted area at 97 million acres, but in fact it only 90,8 million acres. So strange, why did the market react so strongly to the USDA forecasts that are often revised later, especially data for corn.

According to a quarterly report by the USDA, corn stocks in the United States as of March 1 totaled 195,5 million tons compared to 201.9 million, million tons and analysts at the level 197,4 million tonnes.

the Market was supported by data from the weekly report of the Association EIA, according to which ethanol production in the U.S. last week increased by 43 thousand barrels 965 thousand barrels/day, which corresponds to a consumption of 2.5 million tons of corn a week.

the Growth of quotations of corn in Chicago will stop the decline in prices in the physical markets, however, will not be able to deploy prices up as buyers of corn are guided by an increase in supply of cheap wheat production forecasts which in the new season gradually increase.

In Ukraine due to the lack of active export demand traders reduced purchase prices for corn in the ports to 242-246 $/t or 7600-7850 UAH/t, followed by the processors have lowered the price of 150-200 UAH/t to 7300-7450 UAH/t with delivery to the plant.

Pressure on the purchase price of corn increases the price decline in the demand for wheat in 7000-7400 UAH/t with delivery to the port or to the mill.