Corn prices remain low
the Rise of the dollar puts pressure on US exports, and excess supply can significantly affect grain markets. Released yesterday the results of the export of maize has not provided traders with optimism, which prices returned to the lowest September level 137,3 $/ton.
the new harvest in South America in the second half of the season will be another factor in the decline in prices in the conditions of an oversupplied market.
In the season 2016/17 MG, Brazil plans to harvest 92.3 million tons of corn, which is 30% higher than the performance of the current season, predicts Agency Safras&Mercado.
this season, which began in March, maize in many Brazilian States suffered as a result of adverse weather conditions, therefore the average yield did not exceed 42.2 C/ha. acreage under maize harvest in 2017 will be increased only 0.6%, but the yield may increase to 54,13 kg/ha.
the USDA forecasts a smaller crop Brazilian corn – 83,5 million.
In Ukraine corn prices continue to fall and now stand at about 145-149 $/ton or 4200-4600 UAH/t on conditions of delivery at the port.