Corn prices in the US set six-month high — Agritel
Another rise in prices yesterday in Chicago on all products. The oilseeds are once again in the spotlight, the Agritel consultancy writes.
"The US soybean export activity to China remains buoyant and this should encourage local farmers to increase the acreage next year, " the message reads.
At the same time, the wheat area is also expected to grow, after reaching an all-time low last year.
Corn prices are now reaching a six-month high, despite another drop in the ethanol production to 926,000 barrels/day and falling stocks. They are currently close to the lowest level since January 2017.
Tonight's exports sales numbers are expected to be in the range of 0.3 to 0.7 mln t for the wheat, 0.8 to 1.9 mln t for the corn and 1.5 to 2.8 mln t for the soybean.
Previously reported that the prices for Ukrainian corn followed the US exchange in an upward trend.