The increase in corn prices increases the incomes of Brazil and Argentina

the July corn futures in Chicago yesterday fell to 164,95 $/t, after speculators began to take profits. Weather improvement gives hope for the revitalization of sowing. The market will remain in limbo for another two weeks, until finally it becomes known how much of the corn planted by farmers in the United States.

For a delay in the transport by barge to the ports of corn in the U.S. rose by $8/ton to 193 USD/MT FOB US Gulf. Following this, the price of maize in Brazil and Argentina also increased by 2-3 $/t to 166 $/t FOB Argentina and 177 $/MT FOB Brazil.

According to the official forecast in may, Brazil will increase compared with April, the exports of corn in half, to 908,4 thousand tons, which is unusual for this period when exported mostly soy.

Brazil began harvesting corn safrinha. Favorable weather during the growing season will allow you to obtain a high yield, whereby the General production of maize in the country will reach a record 100 million tons, of which exported 30 million tons.

According to the Bolsa de Comercio de Rosario, Argentina, in April exported a record 4.15 million tons, and within 2 months of the season - 7.8 million tonnes, which was a historical high. Argentine exporters were planning to sell 32 million tons of corn.

Ukraine has already exported 26.9 million tons of corn until the end of the season can realize another 2-3 million tonnes. the Purchase price in the port increased by 2-3 $/t to 165-166 $/t, whereas prices rose to 177 to 178 $/t FOB for deliveries in June. However, the number of buyers is small, therefore, prices this week are likely to remain unchanged.