Corn market report

Introduction: weather conditions: high pressure is still maintained in the southern and central parts of the United States Recently, strong air flow through the northern plains, northwest and Midwest of the United States has caused frequent rainstorms The weather is likely to last until June 24, delaying the planting and production of corn crops The weather in Canada is still cool and uncertain China: there is a small amount of rain in the south, and more rain is expected over the weekend But next week it will be warm and dry again This rainfall is not good for increasing corn production in China Market analysis: this week is a rising week for the corn market Because China stopped exporting corn and decided to import 4.5 million tons On Monday, a decision by California will increase demand for corn in the United States by about 100 million bushels Corn production in the United States fell another 2% On Tuesday, the U.S Department of Agriculture reported that it cancelled 10 million tons of corn exported by China, of which 2 million tons were originally exported by China and transferred to the U The United States sold 1.27 million tons of corn this week Outlook: the humid weather in the northwest and Midwest of the United States will reduce the corn planting area by 1 million acres, and the corn production will be difficult to meet their expected value China is experiencing the worst drought in recent decades and is likely to withdraw from the corn export market However, the demand for corn has not declined, so the decline of corn price is very limited.