Corn rises in price in anticipation of the release of the USDA report

2017-02-09 12:01:10
Machine translation
Corn rises in price in anticipation of the release of the USDA report

compared with the previous season in the current marketing year, the United States increased corn exports by 76 percent to 18,192 million. The main importers remain Mexico (4,4263 million tons) and Japan (3,534 million).

 

In the January forecast of experts, the USDA estimated corn exports from the U.S. to 56,518 million tons, which is 17% higher than last year.

 

Export ethanol to 27% than at the end of 2015 and was the largest in the last 5 years, reaching 3,957 billion L. the Main importers of ethanol were Brazil (1.01 billion liters), Canada (0,98 billion litres) and China (billion of 0.678 l).

 

Yesterday in Chicago corn futures rose to 145,37 $/ton. It is expected that the USDA report will be increased assessment of exports and reduced ending stocks for the season 2016/17 MG.

 

On the Euronext of the price of corn rose to 173 EUR/t of 184.95 or $/ton.

 

In Ukraine, strong demand combined with a small number of proposals allowed prices to grow with 151-152 $/ton up to 153-154 $/t on CPT-port. The sellers expect prices to increase.

 

Domestic prices remain on a par 4800-4850 UAH/t at the port and 4300-4400 UAH/t in the elevators.