The condition of corn in the U.S. is improving

According to the weekly report USDAthanks to warm weather with little precipitation the amount of corn in the U.S. in good or excellent condition last week rose 2% to 57%, while last year this figure was 69%. The development of corn still behind average, but with the heat and little precipitation in the Midwest in the next decade will contribute to the maturation of the crops and the harvest of soybeans and corn.

Now, the corn is collected of 7% of squares compared with 11% on average for 5 years and 15% at that date in 2018 Crops matured only 29% compared with 57% on average for 5 years and 69% on this date last year.

the Amount of soybeans in good or excellent condition last week has not changed and is 54%, while last year this figure was 68%. The ripening of the crops of soybeans during the week accelerated to 19% to 34% compared to 59% on average for 5 years and 68% on this date last year.

corn Exports for the week decreased by 45% to 234 thousand tonnes, which is 5 times less than a year ago. Through that corn prices fell to a 146,4 $/t

the Improvement of crops and the revitalization of Japan, which is a traditional importer of U.S. corn, purchases of corn in Brazil is pressuring prices.

Supported quotations of the increase in soybean exports from the U.S. for the week of 38% to 922,55 thousand tons, which is 28% higher than the corresponding figure last year.

China has been actively purchasing U.S. soybeans within the allocated individual companies duty-free quotas. Monday public and private Chinese refiners have stepped up purchases as the government increased quotas by 1 million tons.