Corn

Corn futures remained close to the 7-month low level below $6 per bushel, after the USDA weekly report pointed towards a stabilizing condition of the U.S. crop in its key pollination phase, easing concerns over global supplies. Further, the agency rated 64% of the U.S. corn crop in good-to-excellent condition, unchanged from the previous week. In addition, the report pointed out that weekend rains boosted crops in the eastern Midwest, but dryness persists in western areas as forecasts called for rising temperatures. Meanwhile, the USDA in its July 12th monthly report raised forecasts for global corn ending stocks to 313.0 million tons, up 2.5 million tons compared to last month’s projections.

. Historically, Corn reached an all time high of 843.75 in August of 2012. Corn Futures are available for Trading in The Chicago Board of Trade (CBOT® ) which was established in 1848 and is a leading futures and futures-options exchange. More than 3,600 CBOT member/stockholders trade 50 different futures and options products at the CBOT by open auction and electronically. The biggest corn exporters are the United States, Argentina, Brazil, Ukraine, and France. In 2020 five of them generated more than 75% of overall sales.