Corn prices fall on the stock exchanges in Ukraine
the Fall in wheat prices on the stock exchange in Chicago at 4% since the beginning of the week pulled a neighboring corn market, may futures which fell by 1.1% to 140,9$/t, while July futures to of 144.3 $/t
the Buildup of offerings of maize on the world market intensifies competition for customers, and the depreciation of currencies in Brazil and Argentina will allow them to reduce sales prices on the background of good harvest this season.
Analysts of the stock exchange of Buenos Aires has raised the forecast of gross yield of corn in Argentina to the level of 46-48 million tonnes this season.
corn Exports from the USA remained at a good level, but the activation of the export is possible only if the purchases by China of additional volumes under the new trade deal, which is being prepared for signing in may June.
On the Ukrainian market of maize, there is a decrease of demand prices for $ 2-3 to the level of 159-161$/t delivery port in April and may, after some increase last week 163-164 up to$/t
the Decline in the price of wheat will put pressure on prices of demand for corn and activates the sale by the manufacturers. In may, perhaps again there will be a slight price increase of demand for corn in connection with the reduction of supply in first decade of may, which is traditionally a week of relaxation in connection with output 1 and may 9.
According to analysts, the export of corn from Ukraine at the end of April will reach 24 million tons and there will be only 3-4 million tons available for export this season that will not exert pressure on the market. Therefore, the forecast of corn prices for June and July remains at 160 to 162$/MT delivery port.