Corn prices have not yet reacted to the USDA report
Despite the presence of factors for the growth of prices yesterday, corn futures in Chicago have remained unchanged.
Weekly export sales of corn in comparison with the corresponding week last year increased by 82.1% to 1.77 million tons. Ethanol production in the U.S. during September – December 2017 increased by 3.4% compared to the same period of the previous year.
Experts predict a reduction in the USDA inventory of corn in the US at 125 million bushels, but the same amount of increased export forecast.
Estimate of world corn production reduced by 2.8 million tonnes, in particular to Argentina by 3 million tonnes to 39 million tonnes Forecast corn crop in Brazil remained at the level of 95 million tons, while the Brazilian Agency CONAB reduced by 4.34 million tonnes to 88,01 million tons.
due to the reduction In the production estimate of world ending stocks for the season reduced by 3.46 million tonnes to 203,09 million tons.
In Ukraine, the price of corn in the port stabilized in the range of 165-166 $/t, however, due to the strengthening of the hryvnia to the level of UAH 27,1/$ UAH purchase prices dropped to 100 UAH/t