26.
04.22
09:50

US corn planting progress below long-term average

After the weekend's losses, the green signs prevailed in Paris and ensured moderate gains. In Chicago, too, the futures ended trading with price gains. July, the month with the highest turnover, increased from $9.00 US cents/bushel to $798 US cents/bushel. Above all, the slowly advancing corn sowing is currently supporting prices. According to the USDA, only 7% of the targeted space was ordered, below the expectations of many market participants, who had expected at least 9%. The long-term average is 15% at the same time. At the same time, export business also increased, totaling 1.65 million tons last week and thus almost 490,000 tons above the level of the previous week. Overall, the export counter reached 34.87 million tons.

Source
VR Agrarberatung
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