01.
07.15
06:57

CBoT corn accounted for highest daily gain for 5 years

The corn futures on the CBoT has yesterday recorded its biggest daily gain with + 8% for five years. The USDA had estimated less than expected inventory levels in the United States in his report, and it is expected that the recent weather turbulence limit yields. The funds contribute to the sharp price increase significantly, covering their short positions for days. Yesterday bought 25,000 Maisfutures; Additionally-40,000 lots of soy bean and 17,000 lots of wheat contracts.
On the futures market in Chicago, there is currently a very active trading spreads between the old and the new harvest. Meanwhile, the December 15 date at the same level as the Kontinuos chart is. On 22 June, there was still a difference of 31 cents.
According to the USDA report still 4,447 billion bushels were stored on June 1 in the United States corn, the highest inventory since 1988 and the fifth largest stock are for this date since there are records about it. The maize consumption is specified with 3,303 billion bushels, the second-highest consumption since then.

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