US corn isnt that much atractive top buyers

11 Jul, 2017
US corn isnt that much atractive top buyers
According to USDA, weekly export sales of corn form the US (week until June 29th, 2017) dropped to 3 years low against the backdrop of major competition on the part of Brazil and Argentina.

Although crop prices reached a seven-week low, exporters bought only 140,300 tonnes of corn of the current crop, which is the lowest level for the season. Total sales for the week - new and old crops - are only 214,800 tonnes, which is the lowest level since 2014.

At the same time, corn export from Brazil in June reached 536,200 tonnes, compared to 309,900 tonnes in May. Now the price of corn in Port Paraguay is 163.6 USD / mt, FOB given 161.5 USD / mt, FOB for the US corn.

Large volumes of Argentine corn are entering into the market as well.