The increased pace of planting corn puts pressure on prices
the May corn futures in Chicago fell on Friday to 152.45 $/MT, losing a week of 2.5%.
Traders are watching the weather conditions improve in the regions the planting of corn in the United States and the increased pace of sowing.
Weekly corn exports from the U.S. dropped to 1,597 million tonnes, which, however, 48% higher than in the same period last year.
World news mostly favorable for the corn market. China continues to sell corn from state reserves in anticipation of a new crop that the Minister SKH China was estimated at 218 million tonnes, which exceeds the indicator of last year.
Brazil corn first crop harvested is 77%, and the sowing of the second crop are in good condition due to adequate precipitation.
According to the stock exchange of Buenos Aires, in Argentina, the corn collected by 29.5% against an average of 24%.
Warm and dry weather in Ukraine promotes the planting season. As of 20 April corn planted 327 thousand hectares, accounting for 7% of the planned amount.
this Year the acreage under maize in Ukraine may grow to 5 million hectares due to the high price of grain and canceled the VAT refund for the export of soybeans. Experts USDA I believe that Ukraine in the current season will gather 28,62 million tons of corn and increase its export by 21% to 21 million tons.
Due to active demand prices for Ukrainian maize are still at a high level.