USA: Corn falls in Chicago, the weather took its toll

Published 2023년 4월 24일

Tridge summary

Corn prices on the Chicago Stock Exchange have dropped due to favorable planting weather in the United States and the expectation of a large Brazilian crop. The May price closed at $663.25, down 0.08%, and the July price at $615.25, down 1.72%. Ethanol prices varied by 3 cents last week, with regionally specific prices, and DDGS were priced between $235 and $265 regionally. Corn oil prices also increased by 1 to 3 cents on the dollar. The National Oceanic and Atmospheric Administration (NOAA) predicts rain in various regions, with some areas experiencing dry conditions.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn closed lower on the Chicago Stock Exchange, influenced by the favorable climate for planting in the United States, according to information released by TF Agroeconomia. “May price closed down -0.08% or $-0.50/bushel at $663.25. The price for July 2023, the beginning of our winter season, closed at a low of -1.72% or $ -10.75 bushel at $615.25”, he comments. “Corn ended the week at a low. The favorable weather for North American sowing in the coming days is putting pressure on Chicago prices. The large Brazilian crop is the guarantee that the world market will have where to buy corn with peace of mind in the coming months. As a result, the Funds are liquidating positions. The last three negative sessions led the cereal to close the week with a drop of -0.45% or -3.00 cents/bushel for May/23. For July/23, the month that starts our winter harvest, it dropped -3.22% or -10.25 cents/bushel”, completes the consultancy. The United States Department of Agriculture (USDA) reported ...

Source: Agrolink