Also, global corn supply concerns eased after Brazil's crop forecasting agency, Conab, projected Brazil's 2020/21 corn production at 93.4 million metric tons, above expectations of 89.4 million metric tons. corn ending stocks and global corn ending stocks. Corn prices retreated from that 9-1/4 year high into Q3 after the USDA, in its May WASDE report, projected higher-than-expected 2021/22 U.S. Another bullish factor for corn prices was a drought in Brazil, the world's second-largest corn exporter, as most of Brazil's growing areas only received 60% of their normal amount of rain due to a La Nina weather pattern. corn in 2021 as it looked to rebuild its hog herd that was earlier decimated by African swine flu. The USDA projected that China would buy a record 28 million metric tons of U.S. corn supplies was a major bullish factor for corn prices in 2021. Corn prices then rallied sharply into Q2 of 2021 and posted a 9-1/4 year high of $7.7650 a bushel in May. Prices - CME corn futures prices ( electronic symbol code ZC) posted their low for 2021 in January at $4.7950 per bushel. 3 yellow at 1-1/2 cents per bushel below the contract price. 1 yellow at 1-1/2 cents per bushel over the contract price, or No. The CME futures contract calls for the delivery of 5000 bushels of No. Corn futures also trade at the Bolsa de Mercadorias & Futuros (BM&F) in Brazil, the Budapest Commodity Exchange, the Marche a Terme International de France (MATIF), the Mercado a Termino de Buenos Aires in Argentina, the Kanmon Commodity Exchange (KCE) in Korea, and the Tokyo Grain Exchange (TGE). The largest futures market for corn is at the CME Group. Corn is the largest crop in the U.S., both in terms of dollar value and the number of acres planted. Other uses for corn are alcohol additives for gasoline, adhesives, corn oil for cooking and margarine, sweeteners, and as food for humans. Corn is used primarily as livestock feed in the United States and the rest of the world. Corn can also grow in tropical climates that receive up to 400 inches of rainfall per year, or in areas that receive only 12 inches of rainfall per year. It can grow at altitudes as low as sea level and as high as 12,000 feet in the South American Andes Mountains. Corn is a hardy plant that grows in many different areas of the world. for at least 3,000 years, indicating that the indigenous people of the region cultivated corn as a food crop long before the Europeans reached the New World. Archaeological discoveries show that cultivated corn existed in the southwestern U.S. Fossils of corn pollen that are over 80,000 years old have been found in lake sediment under Mexico City. The business day prior to the 15th calendar day of the contract monthĬorn is a member of the grass family of plants and is a native grain of the American continents. 1/4 cent per bushel ($12.50 per contract)Ĥ5 cents per bushel ($2,250 per contract) Expanded limit 70 centsħ:00p.m.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |