The prices of corn on the exchange moved up further by USD 5/MT as funds expanded their investment in commodities.
News is that while there has been rains in Argentina, it is not enough to pull Argentina out of the drought situation.
In addition, only 78% of Ukrainian corn is harvested as compared to 2021, when 98% of the corn was harvested.
While the production is estimated at 27 MMT, only 21.4 MMT has been collected so far,
Mar 2023 USD 267.07/MT, May 2023 USD 266.91/MT and Jul 2023 USD 264.39/MT.
Corn Prices at US Gulf FOB the period Jan indicated at USD 307/MT and FOB PNW at 327/MT
Other origin prices; Argentina USD 289/MT; Brazil USD 292/MT; FOB Ukraine USD 252/MT.
Other grains; Barley Australia USD 275/MT.
DDGS demand remains steady, and hope that the prices would settle. But with corn prices moving up, DDGS prices will move higher. FOB prices at US Gulf were indicated at USD 321/MT. On the per percent protein basis, US SBM and US DDGS are at par.
Source: Amit Sachdeva (U.S. GRAINS COUNCIL )
