This morning comes the CBoT with a brilliant start of the maize and Sojabohnenfutures. Corn prices are bergründet by the serious drought in Brazil.
The price of the front month rose by 2.5% and thus easily climbed over the brand of 4.3 USD/bushel. This is the biggest daily rise since the middle of May and the highest price since mid-May 2015.
Since April, we report new bullish trend impulse because of drought in the Brazilian winter maize. The local corn supply in Brazil was temporarily so closely that the feed for meat production were too expensive. As a result, it is expected that less for export can be deployed, which is likely to benefit first and foremost the United States.
In their monthly report WASDE the USDA had on Friday both the closing stock for the alte - and misjudged even the new harvest lower than the analysts did. For 2015/16's are now 1,708 billion bushels (may estimate: 1,803 billion bushels) and for 2016/17, the closing stock is estimated at 2,008 billion bushels (may: 2.153 billion bushels).
