Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   
 


Home > News

Corn Rises on Speculation That China Will Buy More U.S. Grain

31.05.2010 10:51 "Agro Perspectiva" (Kyiv) Corn rose to the highest price in almost two weeks on speculation that China, the worlds second- biggest consumer, may need to import more U.S. grain to reduce record domestic prices. China bought 241,000 metric tons of U.S. corn in the week ended May 20 for delivery by Aug. 31, before this years harvest, while canceling 130,000 tons in purchases for the next marketing year, the U.S. government said today. The Asian nation, which hasnt been a net importer since 1956, has ordered a total of 595,100 tons from the U.S. in the current marketing year for delivery before Sept. 1. «China needs corn after drought damaged their crops last year,» said Tim Hannagan, a grain analyst for PFG Best Inc. in Chicago. «The Chinese purchases are also boosting demand from other buyers worried about competing for U.S. supplies.» Corn futures for July delivery rose 1.75 cents, or 0.5 percent, to $3.7325 a bushel on the Chicago Board of Trade, after touching $3.7375, the highest price for a most-active contract since May 14. Corn, down 12 percent in the past year, has risen 5.5 percent since April 27, the day before the first of the recent sales to China were announced. U.S. exports sales of corn to all countries totaled 1.03 million tons in the week ended May 20, bringing the eight-week total to more than 10.1 million tons, the most since a similar period ending in February 2008, USDA data show. China is allowing private feed and food makers to import as much as 2.8 million tons of corn this year, Zeng Liying, the deputy director of the State Administration of Grain, said earlier this week at a conference in Beijing. The worlds most-populous nation may require «large- scale» imports of U.S. corn if delays in spring planting this year result in a reduced harvest, Fei Zhonghai, an assistant to the general manager at Cofco Ltd., said this week. Corn is the biggest U.S. crop, valued at $48.6 billion in 2009, government figures show.

Agro Perspectiva

< USA. Higher Rail, Ocean Rates Drive Wheat Transportation Costs Up All news for
31.05.2010
Flood of U.S. ethanol spilling into foreign markets >

24.11.2023  
12:25 SUGAR MARKET BY SESVANDERHAVE
09:32 BASF signs CNY 40 billion syndicated bank term loan facility with maturity of 15 years for its Verbund site in Zhanjiang, China
21.11.2023  
23:35 2023/24 European Union sugar production estimated up despite lower area in France
13:07 Inflation forecast to drop further and EU economy to show modest upturn
20.11.2023  
14:10 BASF, The Estée Lauder Companies, RSPO and Solidaridad support Enhanced Sustainable Palm Oil Production in Lampung, Indonesia
11:27 Preserving antimicrobials for the well-being of humans, animals, plants and ecosystems
11:18 Dobrodiya Foods started the production of glute-free oat flakes under the WOWOATS brand
09.11.2023  
20:43 Ukraine Grain Exports to Slide in 2023/24 Despite Recent Improvements
07.11.2023  
18:55 Hidden costs of global agrifood systems worth at least $10 trillion
03.11.2023  
20:13 As winter weather closes in on the Northern Hemisphere, the demand for limes changes accordingly
02.11.2023  
11:21 Wärtsilä supports Denmarks green energy future with opening of new biogas liquefaction plant
13.10.2023  
21:35 Shmyhal speaks about progress in issue of confiscation of Russian assets abroad
21:27 Immediate action is needed to get Africa on track with global goals
06.10.2023  
12:55 Global cereal production set to reach a record high in 2023, while trade could contract in 2023/24
18.09.2023  
13:55 Ukraine will sue Poland, Hungary and Slovakia over agricultural bans
15.09.2023  
21:02 Following the expiry of the restrictive measures on Ukrainian exports of grain and other foodstuff to the EU, Ukraine agrees to introduce measures to avoid a renewed surge in EU imports
13.09.2023  
17:54 Biodel AG Secures Series A Investment from Pangaea Ventures to Advance Novel Regenerative Agriculture Technologies
07:25 Rice Export Prices Highest in 15 Years as India Restricts Trade
11.09.2023  
17:54 Export Bans, Black Sea Tensions, Affecting Food Markets - WTO Agriculture and Commodities Division
09.09.2023  
18:36 Global cereal production forecast to match past record - FAO
14.08.2023  
13:22 EBRD provides EUR60 million guarantee to support lending by Ukraines PrivatBank
13:18 Supporting small business in the west of Ukraine via Bank Lviv
12.08.2023  
18:35 Russia Withdraws from Black Sea Grain Initiative
04.08.2023  
19:32 Falling international maize and sugar prices partly offset notable jumps in wheat and vegetable oil quotations
28.07.2023  
19:25 Cargill and partners announce first Gold Standard-approved methane emissions reduction methodology for beef producers
19:21 FAO welcomes European Union contribution of 25 million to advance wildlife conservation and food security
18:55 BASFs earnings in tough market environment significantly below strong prior-year quarter
24.07.2023  
00:45 Brazil continues to make export gains and set new records for beef, pork, and chicken meat
23.07.2023  
22:25 122 million more people pushed into hunger since 2019 due to multiple crises, reveals UN report
22.07.2023  
08:17 U.S. dairy exports to Southeast Asia have been weak to start 2023
13.07.2023  
07:00 Russia Exports Record Wheat Volumes; Ukraine Exports Plummet
08.07.2023  
09:00 FAO Food Price Index continued declining in June
06.07.2023  
20:10 Global agricultural and food production are projected to continue to increase over the next ten years
04.07.2023  
19:54 EBRD supports Ukrainian city of Dnipro with EUR25 million loan
09:03 Nibulon invests EUR 27 mln in construction of granary, flour mill in Izmail
23.06.2023  
08:57 World coffee production for 2023/24 is forecast 4.3 million bags higher than the previous year to 174.3 million
08:55 Mexicos Production Recovering from Coffee Leaf Rust
22.06.2023  
04:05 EBRD and Ukraine government to mobilise 600 million for Ukraine energy security
21.06.2023  
20:26 EBRD and Ukraine government to mobilise EUR600 million for Ukraine energy security
11.06.2023  
15:55 Argentina ramps up soybean imports from Paraguay and Brazil
10.06.2023  
04:35 World Oceans Day must be Humans Day: FAO Fisheries chief
09.06.2023  
11:24 EU extends trade benefits for Ukraine
05.06.2023  
11:25 2023/24 Grain Production Exceeds Consumption
02.06.2023  
11:45 Rebound seen for global cereal output, with worldwide stocks set to hit record levels
11:35 Significant drops in international quotations for wheat, maize, vegetable oils and cheese, while prices of rice, sugar and meat rise
01.06.2023  
11:56 Conflict Drives Acute Hunger in the Democratic Republic of Congo - UN agencies warn
31.05.2023  
12:29 Three New Foods and Their Applicable Food Safety Standards
30.05.2023  
11:55 Haiti: Nearly half of the population is facing acute hunger
11:34 Increasing risk of hunger set to spread in hotspot areas as the Sudan crisis spills over into subregion and el Niño looms - warns new UN report
28.05.2023  
12:51 Black Sea Grain Initiative not fully resumed UN

Also available: 


NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2023 © Agrarika, ltd.
tel.: +380 67 4473802; +380 67 5964652
e-mail: client@agroperspectiva.com