CBoT corn prices rise 4 ½-month high

After the biggest rise for eight weeks yesterday (+ 3.5%) than a 4 ½-month high was reached, the CBoT-Maisfutures to the hour record slightly weaker. The demand for U.S. corn is huge and the farmers sell only hesitantly.
The yesterday's rally leads the agricultural broker Kaname Gokon from Tokyo today morning on a good demand, he warns but at the same time, that the United States had a great harvest and in South America, now best weather allows a very good start of the vegetation. After the rates were fixed yesterday and the basis for the cash market remained stable, some farmers delayed their offer because they are obviously waiting for even better prices.
The private agricultural consultant of Informa economics assumes that Argentina's 2016/17 - is 36.5 million tons of maize and of 25 million tons for export are available.

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