Corn quotes on Chicago Mercantile Exchange continue to go down in price

Trades of corn futures on the Chicago Mercantile Exchange (CBOT) on November 14 ended at USD 132.8 per ton, which is the minimum indicator for the last 2.5 months.

APK-Inform, with the reference to CNBC, reports that the pressure on prices was provided by the progress of corn harvesting in the US, which, as of mid-November, was carried out on 83% of the areas. The projected high level of grain production in the country in MY 2017/18 can reach the second largest level of 1.04 billion tons.

Speculative sales also contributed to lower quotes.

Reference: the forecast of grain production in Ukraine is raised to 63.2 million tons compared to 61.7 million tons in August.