Corn on the Chicago Stock Exchange rose between three to four cents on the dollar amid heightened tensions in the war in Ukraine. According to AgResource Brasil Consulting, pessimism is growing around the continuity of the Black Sea “export corridor” beyond November 2022.
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Market analysts note that the escalating military conflict is “a bigger deal for corn than for wheat amid the relative size of Ukraine’s surplus and Ukraine’s need to supply a minimum of 13 million tonnes of corn to the market.” world in the next 12 months”. “Ukraine continues to sell off existing inventories at incredibly aggressive prices, but Ukraine's fob market developments will receive more attention in the future. Ukrainian corn can be purchased for $1.25 from the US Gulf tonight. US corn demand continues to lag,” points out AgResource Brasil. According to the team of market analysts at TF Agroeconomic Consulting, the strong recovery in wheat prices, the rise in oil and the fall in the dollar in international markets boosted corn futures prices in Chicago this Wednesday. The reduction in demand for ethanol and the advance of the harvest prevented a higher rise in prices. The US Energy Information ...