The latest situation of US corn prices: spot prices of US corn have risen sharply due to planting delays
Corn, a crop, is very important for many industries now. it has many uses. it can be used as feed, industrial processing, corn starch and corn sugar. In terms of price, it is also relatively close to the people, but recently it has been reported that the spot price of corn in the United States has risen sharply. What is going on?
On May 30, it was reported that spot corn prices in the United States rose sharply, mainly due to planting delays.
In the United States Bay, No. 2 yellow corn is now quoted as high as $5.0575 a bushel. At this price, the price per ton is $199.1, up 18.5 cents from the last trading day, which is a big number. Much higher than the previous increase.
The base spread in Louisiana Bay is 69 to 70 cents higher than CBOT's July corn price. The price increase is staggering. In central Illinois, the average price of No. 2 yellow corn purchased by a corn processing plant was $4.3125 per cattail, up 16.5 cents from the previous average. The base price is 17 cents lower to 7 cents higher than CBOT's July corn price. This is a great loss to the corn processing plant. Therefore, the prices of commodities produced by corn processing plants will also rise.
On the same day, corn futures on the Chicago Board of Trade also closed sharply higher. During this period, the July corn season closed about 17.5 cents higher at 436.25 cents per bushel, while the December period closed about 16.5 cents higher at 452.25 cents per bushel. Compared with the previous closing price of corn futures, the overall difference is huge.
Seeing the sharp rise in the spot price of corn in the United States, do you wonder if the price of corn in China will also fluctuate?
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