In Chicago on Tuesday and Wednesday corn futures rose slightly in anticipation of the release of USDA report. Experts estimate corn production in the US in the new marketing year within 13,921-14,604 billion bushels, and the average score is 14,091 billion bushels against 14,604 billion bushels in 2017 year. Analysts forecast reduced transient global corn stocks 2,6 Mt to 195,18 million tons.
expected, in the May report WASDE be reduced forecast world production and stocks of maize in the new season.
Due to the prolonged drought, the USDA may reduce the corn production forecast in Argentina by 700-800 thousand tons and Brazil - on 3 million tons.
In Ukraine, the price of corn in the port fell to 186-188 $/t or 5800-5950 hryvnias/ton due to reduced demand from traders, which is almost completed application to export maize, and reduction of trade activity, due May holidays.
The weekly corn export decreased by 13% to 301 thousand tons.
Manufacturers engaged in sowing campaign, So do not rush to sell old crop corn, waiting for higher prices.
