24.
08.20
05:54

Crop scouts predict lower corn yields in the US

Announcements from crop scouts currently fielding and providing yield estimates in the American Midwest are currently propping up the CBoT corn future prices.
The consequences of a large-scale storm 14 days ago in the US state of Iowa are now more clearly visible. However, traders in Far East Asia warn against too much optimism, because the global demand for corn as a raw material for the production of ethanol is falling during the Corona period.
Currently, stock market traders are concentrating on the crop scouts' earnings estimates. The forecasts are lower than the last of the USDA. Weather services are now also predicting the long-awaited rain for the corn and soybean regions in the US. That could lead to falling stock exchange prices again in the coming days.
However, strong buying interest from China for US agricultural commodities has supported prices on the cash market since mid-August.

Source
Hansa Terminhandel GmbH
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