The sluggish export of corn in the United States poses a lot of resistance to the rise of corn price
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Last Update: 2001-12-27
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Source: Internet
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Author: User
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Introduction: on December 27, it was reported that if the U.S corn export meets the export target of 2.05 billion bushels predicted by the U.S Department of agriculture, the export shipment volume needs to reach an average of 40 million bushels to 45 million bushels per week Historically, exports will pick up in December, but this year they have gone the other way and have fallen Up to now, the export shipment of corn in 2001 / 02 market is 12% behind the slow progress of last year The slow shipment of exports is putting pressure on American corn At the end of last month, China bought 500000 tons of U.S corn and cancelled the export sales of 1 million tons of corn Although the market had a short-lived rise, the current period price has already recalled all the previous gains If corn wants to perform, it seems to have a lot of resistance in the short term.
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