Falling prices for corn will intensify export demand
Favorable weather that will allow you to collect a good harvest of corn in Ukraine and the USA, significantly reduced the price of grain.
As of September 26 in Ukraine, with 18% of the area harvested 4.7 million tons of corn with a yield of 5.67 t/ha 4.1 t/ha on this date in 2017. Low humidity will accelerate the collection and will contribute to a better quality.
Falling purchase prices for the Ukrainian corn in the port up to $150/t has stepped up exports, which rose last week by 55 thousand tonnes to 93 thousand tons.
Rise in price of fodder wheat in Ukraine, up to 190-192 $/t and corn futures in the US led to a rise in the price of domestic corn, which are now for deliveries to the port are 155-156 $/t or 5150-5250 UAH/t
Hope for increasing exports of Ukrainian maize in the EU is realized through a significant amount of newly harvested corn in the EU and double the increase in cereal production in Spain compared to dry last year.
the corn Futures in Chicago rose last week from 135 to 143 $/t, with increased demand from the Asian feed producers. Exports of U.S. corn for the week rose by 22% to 1,263 million tonnes, 62% higher than the corresponding period last year. Prices supported the rise in prices of oil and ethanol, although the production last week declined to 1.03 million bbl/day, and the amount of processing of corn for ethanol per week decreased from 2.8 to 2.74 million tons.
Precipitation in South America contribute to the planting of soybeans and corn. Brazil will increase the acreage under soybean in the result of the reduction in sowing areas of maize.
According to experts of the Grain exchange Buenos Aires, Argentina 2018/19 MG collect 43 million tons of corn against 31.7 million tonnes in 2017/18 MG.