Corn prices in the US are growing due to the delay of sowing

Rain in the corn belt of the USA and the forecasted rains in the regions of cultivation of wheat led to a sharp increase in the prices of wheat and corn on the Chicago stock exchange.

the Pace of planting corn are inferior usual. Now planted 49% of the planned areas compared with 82% in average of 5 years and expert expectations in the range of 48-55%.

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July futures on corn grew by 2.3% to 155,11 $/t in December – to 161 $/t

corn Exports from the U.S. last week fell by 28% to 820,9 thousand tons, which is 47% lower than in the previous year. Overall in the season exported 37,454 million tons of corn, which is 3% higher than last year’s level.

corn Prices in Ukraine are growing after the U.S. market. In may exported 2.3 million tons of corn, and in General in the season of 26.1 million tonnes, with Active export reduces the number of proposals and contribute to higher prices.

the projected level of exports 28-29 million tonnes, Ukraine can realize 3 million tons of corn, although its remnants as of 1 may amount to 7.2 million tonnes, which increases competition in the market.

Due to the increase in the price of corn in China, which is the main buyer of Ukrainian grain in Ukraine, the price rose to 172 and 173 $/t FOB, while prices of demand in port – to 159-160 $/t or 4950-5000 UAH/t

amid rising prices producers are holding back sales, but the need to execute contracts makes traders to inflate prices on party corn with fast delivery.

Ukraine corn planted on 4.3 million hectares or 92% of plan, warm air and good rainfall contribute to the development of crops and the formation of an abundant harvest.

the Forward price of corn from the new harvest increased to 155 to 158 $/t for deliveries in November-December, although producers expect the price of 165-170 $/t

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