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    Home > Food News > Food Articles > Global Feed Grain Markets: Corn Prices Fall as Weather Improves, Weak Demand

    Global Feed Grain Markets: Corn Prices Fall as Weather Improves, Weak Demand

    • Last Update: 2022-08-12
    • Source: Internet
    • Author: User
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    Foreign media May 8 news: Global feed with Chicago corn futures retreating from last week’s 10-year highs, largely on the prospect of warmer weather in the.

    Midwe.
    , which will help farmers to speed up the progress of spring planting; the dollar is strong, and corn export sales are sluggi.
    However, Brazil 's second-season corn production is threatened by dry weather, and international crude oil futures strengthened, providing potential support to the mark.
     
    July 2022 corn futures on the Chicago Board of Trade (CBOT) settled at around $8475 a bush on Friday, down 275 cents, or 5%, from a week a.
    Spot US Gulf .
    2 yellow corn was quoted at $7925 a bushel, down 28 cents, or 1%, from a week a.
    June 2022 corn futures on the EURONEXT exchange settled at around €3650/tonne, up €125 or 5% from a week a.
    The FOB offer price of Argentine corn in Shanghe was $314/ton, down $11 or 4% from a week a.
    The September 2022 corn futures on the Dalian Commodity Exchange closed at around 3,003 yuan/ton, down 24 yuan or 8% from a week a.
    Crude oil futures rose for the second week in a row this week, as the imminent European Union sanctions on Russian crude fueled fears of a further tightening of supplies, helping to offset concerns about slowing global economic grow.
    The June West Texas Intermediate (WTI) contract on the New York Mercantile Exchange (NYMEX) settled at $1077 a barrel, up 8% from a week earli.
    July Brent crude futures, the global benchmark, settled at 1139 yuan a barrel, up 9 percent from a week earli.
     
    The.

    dollar index rose sharply this week, hitting its highest level since December 2002 at 1007 and closing at 1066, up 4% from a week a.
    The.

    dollar index is up 8% so far this ye.
     
    Corn planting schedule hits nine-year low
     
    The.

    Department of Agriculture's weekly crop progress report on Monday showed that corn planting progress continued to lag due to cold and rainy weather in the Midwe.
    As of May 1, corn planting progress was 14%, compared to 42% a year earlier and a five-year average of 3
    The corn emergence rate was 3%, compared with 7% in the same period last year, and the five-year average was
    .

    corn planting is usually halfway through May 8, but judging by current progress, next Monday's report is likely to show planting progress well below that targ.
    Even with.

    farmers planting at an all-time average this week, planting progress on May 8 was only 35%, the third slowest pace for the same period in more than 20 yea.
    Slower than this year were 2013 and 201 The planting progress on May 8, 2013 was only 19%, and on May 8, 2019, it was only 2
    Corn yields were also low in both years, although summer weather, rather than planting delays, had a more significant impact on final yields from a statistical perspecti.

     
    Major producing states have the worst planting lag, potentially leading to late pollination
     
    Looking at planting progress by state, as of May 1, the highest-yielding states were also the most behind in planti.

    Iowa is only planting 9% of corn, compared with a historical average of 42%; Illinois is planting 7%, with an average of 43%; and Minnesota has not even started planting, compared with a historical average of 2
    Year-over-year, Iowa, Illinois and Minnesota planted 62%, 50% and 54% of corn, respective.

    The risk of planting later is that corn will also be pollinated later, which means corn will enter a critical pollination period in hotter weather, which is detrimental to yiel.

    .


    corn is primarily pollinated between July and the end of Augu.

    This year's.


    corn planting schedule is also off to the slowest start since 201 Dan Bass, president of American Agricultural Resources, believes that this year's.


    corn production has no chance of a reco.

    Even though weather forecasts point to hot and dry weather next week, the past week has been cold and wet in many areas, meaning Monday's crop progress report will not show much progress in planti.

     
    The.


    Department of Agriculture projected in its March planting intentions report that corn acreage will be 4% lower this year than the previous year,as fertilizer prices
    soared and prices of other competing crops surge.

    If corn planting continues to be delayed, some corn fields could be replanted with soybeans or other cro.

    As of May 6, 2022, CBOT corn futures rose 2% year-on-year, soybean futures rose 3% year-on-year, and oat futures rose about 62% year-on-ye.

     
    Dry weather in central US a week after Mother's Day
     
    European weather models show that the week after Mother's Day on May 8 will be much drier in the central.


    than in April and the first few days of M.

    In addition, temperatures will also be near or above normal, which is very different from the cooler days of the first few days of M.

     
    University of Missouri meteorologist Pat Guinan expects warmer temperatures next week for the Western Corn Belt's planting wind.

    The ground will also dry out from Sund.

    Highs can reach 80 or even 90 degrees Fahrenheit (27 to 32 degrees Celsiu.

    If mid-to-late May is close to this temperature, it means it is close to the record high temperatu.

     
    Since 2010, US farmers have widely used RTK and GPS global satellite positioning technology, which means that US farmers can sow about half of the corn in just one we.

    For example, in 2013, corn planting progress jumped from 28% on May 12 to 71% on May 1
     
     .


    corn exports slow down
     
    The USDA has not reported single-day export sales contracts to China in the past we.

    The weekly export sales report showed net.


    corn sales for 2021/22 were 783,000 tons in the week ended April 28, 10% lower than last week and 19% lower than the four-week avera.

    Net sales in 2022/23 were 738,000 tonnes, down from 843,000 tonnes a week earli.

    Total.


    corn export sales so far in 2021/22 are 53 million tons, down 11 percent from a year earlier and equal to 92 percent of the USDA's full-year export targ.

    China bought 08 million tons of.


    corn that week (466,000 tons for delivery in 2021/22 and 612,000 tons for delivery in 2022/2
     
    Despite global food shortage,.


    accelerates use of corn to produce ethanol
     
     .


    ethanol producers have also accelerated their use of corn to produce ethanol as.


    crude oil prices hit a 14-year high in early March, peaking at $130 a barr.

    The monthly processing report released by the USDA shows that in March 2022, the United States consumed a total of 45942 million bushels of corn to produce ethanol, an increase of 12% month-on-month and an increase of 8% year-on-ye.

    The output of DDGs reached 1,887,338 tons, an increase of 11% month-on-month and a year-on-year increase of
     
    Brazil's second-crop corn production lowered
     
    As dry weather in central Brazil hurt yield potential, consultancy StoneX forecast Brazil's second-season corn production in 2021/22 at 814 million tons, down from last month's forecast of 99 million tons, but still the highest on reco.

    Among them, the second-season corn production in Goiás state was lowered to 7 million tons, 15% lower than the previous forecast; the output in Mato Grosso state was expected to be 36 million tons, 7% lower than the previous foreca.

    StoneX analyst Pedro Lopez said further crop losses in Mato Grosso and Goias states could not be ruled out, as current climate models suggest continued dry weather in the regi.

    StoneX expects Brazil's corn production in 2021/22 to be 1145 million tons, down 8% from April, but up 40% from the previous year; exports and domestic consumption are expected to be 40 million tons and 75 million tons respectively; ending stocks are expected to be 990 million tons 10,000 tonnes, down from an earlier forecast of 12 million tonn.

    For comparison, the USDA currently forecasts 2021/22 Brazilian corn production at 116 million tons and exports at a record 45 million to.

    Conab, the national commodity supply company under Brazil's Ministry of Agriculture, forecast corn production last month at 116 million tonn.

     
    Brazil's agricultural meteorological company (Rural Clima) said the precipitation this week and next week will not help the producti.

    The final production of the second crop of corn will be reduc.

    The company forecast second-crop corn production of between 80 million and 84 million to.

     
    Brazil corn exports rise sharply in April
     
    Brazil's corn exports reached 702,780 tonnes in April 2022, more than fivefold from 130,880 tonnes in April 2021, and up from 14,280 tonnes in March, which helped offset Ukraine's 14,280 tonnes, data from Brazil's Foreign Trade Secretariat show.

    The impact of reduced expor.

    Ukraine’s corn exports in April were 622,000 tons, well below the 22 million tons in April 2021, Ukrainian customs data show.



    corn exports to Brazil
     
    July 2022 corn futures on the Chicago Board of Trade (CBOT) settled at around $8475 a bush on Friday, down 275 cents, or 5%, from a week a.

    Spot US Gulf .

    2 yellow corn was quoted at $7925 a bushel, down 28 cents, or 1%, from a week a.

    June 2022 corn futures on the EURONEXT exchange settled at around €3650/tonne, up €125 or 5% from a week a.

    The FOB offer price of Argentine corn in Shanghe was $314/ton, down $11 or 4% from a week a.

    The September 2022 corn futures on the Dalian Commodity Exchange closed at around 3,003 yuan/ton, down 24 yuan or 8% from a week a.

    Crude oil futures rose for the second week in a row this week, as the imminent European Union sanctions on Russian crude fueled fears of a further tightening of supplies, helping to offset concerns about slowing global economic grow.

    The June West Texas Intermediate (WTI) contract on the New York Mercantile Exchange (NYMEX) settled at $1077 a barrel, up 8% from a week earli.

    July Brent crude futures, the global benchmark, settled at 1139 yuan a barrel, up 9 percent from a week earli.

     
    The.


    dollar index rose sharply this week, hitting its highest level since December 2002 at 1007 and closing at 1066, up 4% from a week a.

    The.


    dollar index is up 8% so far this ye.

     
    Corn planting schedule hits nine-year low
     
    The.


    Department of Agriculture's weekly crop progress report on Monday showed that corn planting progress continued to lag due to cold and rainy weather in the Midwe.

    As of May 1, corn planting progress was 14%, compared to 42% a year earlier and a five-year average of 3
    The corn emergence rate was 3%, compared with 7% in the same period last year, and the five-year average was
    .


    corn planting is usually halfway through May 8, but judging by current progress, next Monday's report is likely to show planting progress well below that targ.

    Even with.


    farmers planting at an all-time average this week, planting progress on May 8 was only 35%, the third slowest pace for the same period in more than 20 yea.

    Slower than this year were 2013 and 201 The planting progress on May 8, 2013 was only 19%, and on May 8, 2019, it was only 2
    Corn yields were also low in both years, although summer weather, rather than planting delays, had a more significant impact on final yields from a statistical perspecti.

     
    Major producing states have the worst planting lag, potentially leading to late pollination
     
    Looking at planting progress by state, as of May 1, the highest-yielding states were also the most behind in planti.

    Iowa is only planting 9% of corn, compared with a historical average of 42%; Illinois is planting 7%, with an average of 43%; and Minnesota has not even started planting, compared with a historical average of 2
    Year-over-year, Iowa, Illinois and Minnesota planted 62%, 50% and 54% of corn, respective.

    The risk of planting later is that corn will also be pollinated later, which means corn will enter a critical pollination period in hotter weather, which is detrimental to yiel.

    .


    corn is primarily pollinated between July and the end of Augu.

    This year's.


    corn planting schedule is also off to the slowest start since 201 Dan Bass, president of American Agricultural Resources, believes that this year's.


    corn production has no chance of a reco.

    Even though weather forecasts point to hot and dry weather next week, the past week has been cold and wet in many areas, meaning Monday's crop progress report will not show much progress in planti.

     
    The.


    Department of Agriculture projected in its March planting intentions report that corn acreage will be 4% lower this year than the previous year,as fertilizer prices
    soared and prices of other competing crops surge.

    If corn planting continues to be delayed, some corn fields could be replanted with soybeans or other cro.

    As of May 6, 2022, CBOT corn futures rose 2% year-on-year, soybean futures rose 3% year-on-year, and oat futures rose about 62% year-on-ye.

    price
     
    Dry weather in central US a week after Mother's Day
     
    European weather models show that the week after Mother's Day on May 8 will be much drier in the central.


    than in April and the first few days of M.

    In addition, temperatures will also be near or above normal, which is very different from the cooler days of the first few days of M.

     
    University of Missouri meteorologist Pat Guinan expects warmer temperatures next week for the Western Corn Belt's planting wind.

    The ground will also dry out from Sund.

    Highs can reach 80 or even 90 degrees Fahrenheit (27 to 32 degrees Celsiu.

    If mid-to-late May is close to this temperature, it means it is close to the record high temperatu.

     
    Since 2010, US farmers have widely used RTK and GPS global satellite positioning technology, which means that US farmers can sow about half of the corn in just one we.

    For example, in 2013, corn planting progress jumped from 28% on May 12 to 71% on May 1
     
     .


    corn exports slow down
     
    The USDA has not reported single-day export sales contracts to China in the past we.

    The weekly export sales report showed net.


    corn sales for 2021/22 were 783,000 tons in the week ended April 28, 10% lower than last week and 19% lower than the four-week avera.

    Net sales in 2022/23 were 738,000 tonnes, down from 843,000 tonnes a week earli.

    Total.


    corn export sales so far in 2021/22 are 53 million tons, down 11 percent from a year earlier and equal to 92 percent of the USDA's full-year export targ.

    China bought 08 million tons of.


    corn that week (466,000 tons for delivery in 2021/22 and 612,000 tons for delivery in 2022/2
     
    Despite global food shortage,.


    accelerates use of corn to produce ethanol
     
     .


    ethanol producers have also accelerated their use of corn to produce ethanol as.


    crude oil prices hit a 14-year high in early March, peaking at $130 a barr.

    The monthly processing report released by the USDA shows that in March 2022, the United States consumed a total of 45942 million bushels of corn to produce ethanol, an increase of 12% month-on-month and an increase of 8% year-on-ye.

    The output of DDGs reached 1,887,338 tons, an increase of 11% month-on-month and a year-on-year increase of
     
      Brazil's second-crop corn production lowered
     
      As dry weather in central Brazil hurt yield potential, consultancy StoneX forecast Brazil's second-season corn production in 2021/22 at 814 million tons, down from last month's forecast of 99 million tons, but still the highest on reco.

    Among them, the second-season corn production in Goiás state was lowered to 7 million tons, 15% lower than the previous forecast; the output in Mato Grosso state was expected to be 36 million tons, 7% lower than the previous foreca.

    StoneX analyst Pedro Lopez said further crop losses in Mato Grosso and Goias states could not be ruled out, as current climate models suggest continued dry weather in the regi.

    StoneX expects Brazil's corn production in 2021/22 to be 1145 million tons, down 8% from April, but up 40% from the previous year; exports and domestic consumption are expected to be 40 million tons and 75 million tons respectively; ending stocks are expected to be 990 million tons 10,000 tonnes, down from an earlier forecast of 12 million tonn.

    For comparison, the USDA currently forecasts 2021/22 Brazilian corn production at 116 million tons and exports at a record 45 million to.

    Conab, the national commodity supply company under Brazil's Ministry of Agriculture, forecast corn production last month at 116 million tonn.

     
      Brazil's agricultural meteorological company (Rural Clima) said the precipitation this week and next week will not help the producti.

    The final production of the second crop of corn will be reduc.

    The company forecast second-crop corn production of between 80 million and 84 million to.

     
      Brazil corn exports rise sharply in April
     
      Brazil's corn exports reached 702,780 tonnes in April 2022, more than fivefold from 130,880 tonnes in April 2021, and up from 14,280 tonnes in March, which helped offset Ukraine's 14,280 tonnes, data from Brazil's Foreign Trade Secretariat show.

    The impact of reduced expor.

    Ukraine’s corn exports in April were 622,000 tons, well below the 22 million tons in April 2021, Ukrainian customs data show.

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