Political instability and good yields put pressure on corn prices
corn Prices continue gradual fall in the absence of factors. Special attention traders pay to the voltage relations between the U.S. and Russia with Iran after missile attacks air base in Syria. There is hope for improving relations between China and the new US administration.
Reduce the acreage under maize in the US are unable to push prices up, since a significant carry-over stocks gravitate over record exports to 2,225 billion bushels.
In anticipation of the April balance of grain from the USDA may corn futures dropped to 141,63 $/ton.
Despite the global bearish trend in Ukraine, export prices of maize remain stable. To keep prices helps steady demand for grain traders, but after the release in the near future the markets of newly harvested corn from Brazil and Argentina, a slight sagging of prices.
Today, for corn suggest:
- EXW ex-Elevator 4500 UAH/t,
- CPT-plant 4450-4550 UAH/t,
- CPT-port 4750-5000 UAH/t,
- SRT 154-156 $/t