The price of maize falls if recovering?
Agency (Informa Economics increased its forecast of U.S. corn yield to 174, 8 bushels/acre, resulting in a gross yield should increase to a record 15.3 billion bushels or 386,3 million. Recall that the USDA estimates the corn harvest 15,153 billion bushels or 384,9 million tons, whereas last year it was raised 345,5 million.
the news of corn prices on the Chicago exchange have fallen to level of $125/ton, but as long as it is trading at 128,73 $/ton.
the Difficult weather conditions in France from the prolonged drought had an adverse effect on corn crops. According to FranceAgriMer now as 60% of crops is estimated as good to excellent, although last week was 63%.
On the French stock exchange, the prices of corn remain at 162 € /t 181 or $/ton.
the prospects of a good harvest of corn in Ukraine also put pressure on prices. During the week the price of grain fell on the basis of CPT-port with 150 $/t to 145$/ton or RS 4100/ton for shipments in October-November.