News

Watch next week’s quarterly feed inventory report and whether the U.S. government shuts down

Maize (Corn)
United States
Market & Price Trends
Published Sep 26, 2023

Tridge summary

Global corn prices have mostly fallen as the advancement of the US corn harvest and strong Brazilian corn exports have put pressure on the market. There is market discussion that US and Brazilian corn production may be reduced, providing some support, but large global supplies will continue to constrain any attempt to rebound prices. The US Environmental Protection Agency's draft report suggesting that corn ethanol has minimal benefits in reducing carbon emissions compared to gasoline raises questions about the future of US ethanol and its eligibility for government subsidies.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Foreign media news on September 24: As of the week of September 22, 2023, global corn prices mostly fell, and the decline of Chicago corn slowed down, hovering near the low in the past three years. The advancement of the U.S. corn harvest has brought seasonal pressure. Brazil's corn exports hit a record in September, causing weak U.S. corn export sales. At the same time, there is market discussion that U.S. corn production may be further reduced, and Brazil's corn production may decline in 2023/24, providing some support to the corn market, but 2023/24 Large annual global supplies will continue to constrain any attempt to rebound corn prices. ​ On Friday, the Chicago Board of Trade (CBOT) December corn futures closed at US$4.7725 per bushel, up 0.21% from a week ago; the US Gulf No. 2 yellow corn for October shipping was quoted at US$5.5975 per bushel, down 0.5%. ; November corn futures on the Euronext Euronext closed at 209.25 euros/ton, down 1.8%. The FOB price of Argentine ...
Source: Foodmate
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