Colosseum a.s. (Colosseum a.s.)
Commodities  |  April 11, 2013 13:14:28

Corn strengthened in response to expectations of higher demand and lower inventories



ColosseumHighest this week strengthened after yesterday's report WASD most active futures contract for corn on the Stock Exchange Chicago Board of Trade under the group CME. The reason the messages were expecting growth in demand from producers of alternative fuels and lower estimates of closing stocks before the start of this year's harvest. The U.S. Department of Agriculture expects that the demand for corn by ethanol producers in this marketing year will reach 4.55 billion bushels. The March estimate was 4.5 billion. Production of that alternative fuel increased last week by 5.8% and this resulted in the largest increase since December 2010. Furthermore, according to USDA corn stocks will end before this year's harvest of 757 million bushels. Although this figure represents an increase compared to the March estimate, however, is less than 836 million, of which spoke analysts polled by Bloomberg.The increase in corn prices currently contributes a stop condition by American farmers that the recent drop in prices of grain refuse to sell. Corn futures to the May delivery date strengthened during yesterday's session on the exchange CBOT 0.7% to the closing price of 649 cents per bushel, and growth continues well into the day, being about 5 cents to 654 cents per bushel.

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