The corn market continues to fall

2017-08-28 12:18:38
Machine translation
The corn market continues to fall

on the Eve of the final week of the season 2016/17 for U.S. corn, the price of the December corn futures fell to 3.52 $/bushel or 139,56 $/t

 

the day the price fell by 0.9%, and during the week fell by 3.3%.

 

put Pressure on the prices of diverse factors, while the news, which could support quotes, was not found.

 

Traders had hoped to get the results of the crop tour ProFarmer reduction of the forecast of U.S. corn yield of 165 bushels/acre, but experts estimated it at the level 167,1 bushels/acre, and production in 13,953 billion bushels, is 200 million bushels inferior to the USDA forecast.

 

the approach of the time of harvesting soybeans and corn, forcing producers to fire the granaries and sell the remaining old crop. Therefore traders expect increased sales over the next two weeks.

 

market Participants believe that the official estimate of production in 2017, South African maize should be increased from the current 15,969 million tonnes to 16,135 million tons.

 

In Ukraine, the price of corn from the new harvest are low 145-148 $/t for October deliveries to the port. However, they continue to decline under the pressure of falling prices of feed wheat, which fell to 148 to 151 $/t on conditions CPT-port.