Mexico remains main buyer of US corn

Corn contracts on the CBoT ended trading on Friday with a red sign. The most traded May contract suffered a price loss of 7.75 US cents to the equivalent of €189.96/t. Many market participants are eagerly awaiting the USDA's forecast for corn acreage. Analysts surveyed by Bloomberg expect an area of 93.5 million acres - an increase of 2.9 million acres compared to the previous year. The potential increase in acreage tended to create a bearish mood on the stock market. Meanwhile, losses put the brakes on the latest US export figures. The USDA report showed that around 1.45 million tons of corn were ordered in the week to 13 February. Mexico leads the list of buyers with 546,800 tons. Overall, orders for the season rose to 47.87 million tons, 29 percent more than in the previous year. Shipped exports reached a season high of 1.6 million tons.