26.
08.20
05:09

CBoT corn rates at 6 week high

Due to strong price gains in the last few days, the CBoT corn futures have now reached a six-week high. China and the US government have committed to the consistent implementation of their Phase 1 trade agreement from January 2020.
There are basically two reasons for the rise in corn prices: On Monday, the USDA assessed corn stocks in the fields in the USA to be significantly worse than the week before. On the other hand, there are the large exports of US corn to China which, according to talks by government delegations at the beginning of this week, are likely to continue.
The daily reports of large orders from the Chinese confirm this. Yesterday alone, deals for 408,000 tons of US corn were reported. A deal for 204,000 tons of US soybeans was also confirmed.

Source
Hansa Terminhandel GmbH
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