What corn prices will be in Ukraine in the new season?
the USDA Forecast a record corn crop in the United States to 385 million. continues to restrain the price of corn on the Chicago stock exchange at a low level of about $133-135, although last year she was toluwalase $148-150 with delivery in October.
The increase in the price of oil to $50 in comparison with last year's level on that date of $44-45 per barrel did not help to strengthen the price of corn.
Support from a further fall in prices given the reports in the records for the production of ethanol from corn in the United States. Last week, the recorded production 1,029 million barrels of ethanol per day(8,632 thousand tons).
The condition of corn crops in Ukraine are mainly rated as good and weather forecasts add confidence in obtaining high yields of maize at the level of 26-27 million. Corn export Min APK is projected at 18.6 million ton., and USDA -17 million.
SE "Lviv regional phytosanitary laboratory" found that a significant area of maize in areas of Western Ukraine are currently infected with quarantine objects prohibited in China, which make the grain unfit for export to China. It can change the balances of supply of corn as in the regions of Ukraine, and on export routes. 2015/16 China reduced the import of corn, and in 2016/17МР will continue to reduce imports of corn in connection with the sale of record government stocks (more than 240 million.) in the domestic market.
Traders offer $150-151 for corn new crop with delivery in October - November and the approach of harvest season prices may come under pressure with the record harvest in the U.S. and the increase of the corn crop in Argentina and Brazil in 2016/17МР..