Corn in the United States planted 83% of the planned areas
According to a new report USDA crops, as of June 9, corn in the United States planted 83% of the planned areas compared to 99% on average for 5 years and traders ' expectations at the level of 80-83%.
the Highest latency, sowing recorded in the East corn belt, in the major States producing. In Illinois for the week, the sowing area has increased by 28% to 73%, Indiana – 36% to 67%, Michigan by 21% to 63%, Ohio – 28% to 50%, Wisconsin 20% to 78%.
it is Unknown dares farmers to sow corn after the optimal timing, will give preference to soybeans.
Today will be released the balance USDA with the new forecast corn production, which will take into account the problems of sowing.
the July corn futures in Chicago remained at the level of 162,75 $/t
corn Exports from the U.S. last week increased by 14% to 850,647 thousand tons, which is 39% less than the corresponding period last year. The main buyers of maize from the USA are Mexico, Japan and Colombia.
Traders cut short positions and increasing long waiting active change in the price of corn of the new harvest.
South Korean processor MFG plans today to purchase for the tender of 210 thousand tons of corn for delivery in November-December at a price no higher than 215 $/t CFR. The results of the auction will be an additional indicator for market.
In Ukraine, the price of corn of the old crop at the port remain at 165-166 $/t or 5200-5250 UAH/t, while the grain of the new crop for November delivery fell from 170 to 168 $/t. Traders are almost closed existing export contracts and the procurement of newly harvested corn.
In the current season Ukraine exported 28 million tons of corn until the end of MG can increase this figure up to 29-29. 5 million tons.