Technical sales movement devalues corn in the USA – Agrolink Analysis

The price of corn on the Chicago Grain Exchange recorded a drop of 2.50 cents in May/17 contracts on Thursday (02.03), closing at US$ 3.795 per bushel. The other highlighted commodity positions on the CBOT closed the session with valuations between 2.50 and 3.00 points.

 

 

On a profit-taking day, the North American corn market recorded losses in the main futures prices. Speculative investors sold their valued positions in recent days and interrupted the upward trajectory. There was also pressure due to lower international demand for cereal from the United States, as demonstrated by the weekly export bulletin.

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