September 28 US corn prices rose sharply at our ports
On September 28th, the Chicago Board of Trade (CBOT) corn futures surged 40 cents on Friday, closing the daily limit. Traders said that due to the US Department of Agriculture’s quarterly inventory report, US corn stocks were low as of September 1. In anticipation, the market responded positively to this.
The US Department of Agriculture announced that corn stocks were 988 million bushels, well below analysts' estimates of 1.113 billion.
Although U.S. corn harvest progressed well, and spot checks reported that yields were better than expected, corn prices continued to rise.
An agricultural meteorologist said on Friday that the harvest of maize and soybeans in the United States should progress rapidly next week, and a small amount of rain will only have a temporary impact.
The key resistance for the index's December corn futures contract is the 50-day moving average entry price of $7.90, and the main support is the 100-day moving average entry cut-rate of $6.86-1/2. The nine-day relative strength index (RSI) was 48.
The benchmark December corn futures contract closed 40 cents higher and settled at $7.56-1/4 per bushel.
The US FOB price of US yellow yellow corn for delivery in December was 323.7 U.S. dollars per ton, which was equivalent to 2053 yuan per ton; the total cost after paying duty to China ports was about 2,747 yuan per ton, up by 109 yuan per ton from the previous day, compared to last year. The same period rose 247 yuan / ton.
The US Department of Agriculture announced that corn stocks were 988 million bushels, well below analysts' estimates of 1.113 billion.
Although U.S. corn harvest progressed well, and spot checks reported that yields were better than expected, corn prices continued to rise.
An agricultural meteorologist said on Friday that the harvest of maize and soybeans in the United States should progress rapidly next week, and a small amount of rain will only have a temporary impact.
The key resistance for the index's December corn futures contract is the 50-day moving average entry price of $7.90, and the main support is the 100-day moving average entry cut-rate of $6.86-1/2. The nine-day relative strength index (RSI) was 48.
The benchmark December corn futures contract closed 40 cents higher and settled at $7.56-1/4 per bushel.
The US FOB price of US yellow yellow corn for delivery in December was 323.7 U.S. dollars per ton, which was equivalent to 2053 yuan per ton; the total cost after paying duty to China ports was about 2,747 yuan per ton, up by 109 yuan per ton from the previous day, compared to last year. The same period rose 247 yuan / ton.
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