The improvement in the weather contributes to the development of the maize crop in the United States and Ukraine
the Decrease in temperature and moderate rainfall in the next 7-10 days will contribute to the development of crops in the corn belt of the United States. According to the NASS USDA, as of July 22, the quantity of corn in good or excellent condition, down 1% to 57% compared with 72% on average for 5 years. Due to the delay of sowing flowering of maize began on the 35% of the area compared to 66% on average for 5 years, which consequently delay ripening.
Improved weather conditions pressuring prices despite the uncertainty of future harvest volumes.
the September corn futures in Chicago fell to the lowest since June, the level of 167.8 $/t in December – up to 169,8 $/t
Ukraine warm weather with periodic rainfall also contributes to the development of corn, which puts pressure on prices of the new harvest. For corn with delivery in October-November, the port offers 167-169 $/t, while for the grain of the old crop in the port give 175-177 $/t
in the Future prices for corn of the new crop could support the rise in price of feed wheat, the price of which in the port increased up to 170-171 $/t due to shortage of supply due to a large share of wheat quality.
experts from the European monitoring MARS crop reduced compared to the previous month estimate of average yield for wheat and barley in the EU, but increased for corn, although traders expected deterioration evaluation due to heat in France.
Assessment of productivity of wheat increased by 1% to 6.04 t/ha, which is 7% higher than last year's figure and 2% - average 5-year level. Maize yield will be of 8.08 t/ha, which is 3% lower than the level 2018/19 Mr.
In France, 38-400 heat reduces the soil moisture reserves and production potential, which will lead to increased imports of maize to the EU, especially from Ukraine.
Active collection of maize in Brazil increases the supply on world markets, however, difficulties with the supply of maize to Iran, which is the main importer of Brazilian corn can significantly reduce the price of it.