The reduction of the yield of corn in Brazil supported prices
In Chicago corn futures rose 0.7% to 137,2 $/t at the forecast of experts INTL FCStone the decrease in crop Brazilian corn SARN in 2018 from 24.05 to 23.64 million tons, the Delayed planting of corn and soybeans due to lack of rain in October will reduce yields.
ethanol Production in the U.S. last week rose by 17 thousand barrels/day and remains at the level of 1.06 million barrels/day.
Futures on the standard rose by 1% to 1,451 $/gallon, which increases the margin of ethanol producers and increases the demand for corn.
the Pace of harvesting corn in the United States are significantly behind the average. However, they can grow significantly in the next week thanks to good weather and the completion of harvest of soybeans.
In Ukraine, the price of maize at the port remain at 146-149 $/t. Traders will receive a high number of proposals, although many farmers put grain on forward transactions, which recorded a higher price.
On October 30, with 2,673 million hectares (59% of the area) produced 12,851 million MT of corn with a yield of 4,81 t/ha. In the Northern and Western regions, the yield is higher, therefore the forecast of gross yield of corn at 23.5-24 million tonnes is quite real.