CBoT corn prices four weeks under pressure

The courses of the CBoT Maisfutures have lost U.S. already four weeks in a row as a whole growing regions more than 15% due to almost perfect weather conditions in the ground. Extrapolating now with a big crop, which are added to the also great expectations of harvest in Brazil and the Ukraine. The weather reports in the grain belt of the United States announce remain beautiful summer weather and the fears that it is too dry in some regions until the end of August are piling up.
The USDA yesterday announced in its weekly export inspections that 2,700 tonnes of corn sales from the old crop have been cancelled and that only 277,000 tonnes for export have been reported for the neuerntigen corn. Thus, market expectations were disappointed.
The good conditions in the United States, South America and the Ukraine moderated fears about loss of earnings because of the heat in Europe.

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