CORN PRICES TUMBLE AS SUPPLY OUTLOOK IMPROVES

Agricultural , Best practices , Brazil , Corn , Negotiating with Suppliers , NEGOTIATOR'S TAKE , Supplier's costs , US Dollar , USA Jun 22, 2016 No Comments

 

NEGOTIATOR’S TAKE: Falling Corn prices will exert downward pressure on most of the food chain.

 

06.21.16 – Supply outlook improves in the U.S. and Brazil

Corn futures in Chicago fell by the most in three years and prices slumped in Sao Paulo state as the supply outlook improves in the U.S. and Brazil, the world’s top exporters.

 

U.S. rains through June 26 are seen aiding about half the crop in the Midwest, and the growing area is unlikely to encounter severe heat through mid-July, according to Joel Widenor, director of agricultural services at Commodity Weather Group LLC in Bethesda, Maryland. In Brazil, harvesting of the country’s winter crop is picking up pace and helping to ease a supply squeeze.

 

“The weather patterns are taking out some of the heat, and we’re also adding a little bit of moisture” in the U.S., Ryan Kelbrants, a market analyst at CHS Hedging LLC in Inver Grove Heights, Minnesota, said in a telephone interview.  “Our crop scouts are reporting excellent conditions.”

Read the rest of this ProPurchaser sourced article, HERE.

 

SOURCE: Bloomberg

ARTICLE AUTHORS: Megan Durisin | Follow Megan on TWITTER

& Tatiana Freitas

 

Adam

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