American corn advances in the global market

In the week ending November 20, the U.S. exported 1.6 million tons of the cereal, within the range expected by the market. Strong demand, especially from international industries and Asian buyers, has sustained prices on the Chicago Board of Trade. Corn prices on the CBOT varied little, closing on November 26 at $4.31 per bushel. The stability reflects the balance between high global supply and firm demand for U.S. grains. Meanwhile, in Brazil, exporters face difficulties in competing, even with the recent improvement in shipments. CEEMA expects November to end with 5 million tons exported. Despite this, the international market remains bearish in the ...