Corn prices in the international market keep falling

Introduction: while the domestic corn price is falling, the international market corn price continues to be depressed Recently, the corn futures price of Chicago cereals exchange in the United States has been continuously lower After the price of corn futures agreed in May last week fell below the psychological threshold of 200 cents per bushel, the price continued to seek support downward in the absence of good news stimulation and the intervention of buying funds On April 15, the closing price of corn agreed in May reached a new low, closing at 196 cents per bushel Ear, equivalent to 639 yuan / ton At the same time, the trend of spot price is not ideal According to the information provided by the American Grain Association, the spot FOB price of corn (No.3, 15 moisture) in the US Gulf port this week was 88 US dollars / ton, equivalent to 728 yuan / ton, down 2-3 US dollars / ton compared with the previous two weeks Analysis of the reasons for the current decline of corn prices in the international market: first, the U.S Department of Agriculture recently predicted that the corn planting area in the United States in 2002 would increase to 79 million acres, an increase of 4% over the previous year, leading to a strong atmosphere of short positions in the corn market Second, due to the climate supporting crop growth in the main corn producing areas of the United States at present, according to the global agricultural forecast report of the U.S Department of agriculture, the U.S corn output will reach 241.48 million tons this year, and the end of the year inventory will also increase, which is expected to be 41.17 million tons In addition, the increase of the corn loan protection price and other factors will lead to the continuous decline of corn price The third is the competition from China's corn export Due to the huge corn stock and the government's full support for corn export, the market generally believes that China's corn export quantity is higher than the previous expectation, resulting in fierce competition in the international corn export market At the same time, the strong growth trend of China's feed wheat export poses a threat to the corn sales of the United States, and the goal of the expected growth of American corn export It will be difficult to achieve the target and the support for price will be weakened In the environment of slowing global economic growth and sluggish corn consumption, it will take some time for the international corn market price to get out of the trough Unless there is a sudden favorable stimulus, the international corn market will remain in a depressed state for some time (author:) share to feed Weibo share to: