Colosseum a.s. (Colosseum a.s.)
Commodities  |  February 08, 2013 08:35:28

Corn continued cheapening

ColosseumFutures contracts on corn yesterday again cheaper. It was the fifth time in a row and thus far is the longest series of sinks for the last two months. In the week ending 31 January U.S. exporters had sold only 168,918 tons of maize. This is a dramatic 76% less than in the same period last year. Sales of U.S. corn are then 1 September of last year by 52% lower compared to the same period a year earlier. One of the reasons is less demand for corn from ethanol producers, whose production has decreased considerably, and many manufacturing plants are closed. The March corn on the CBOT yesterday ended with the fall of 1.6% to 710.75 cents per bushel.

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