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On February 24, corn early review: the lack of new information to guide the corn weak decline

Number of visits: Date:2014-02-24

Chicago board of trade (CBOT) on February 21, corn futures fell, hit a five-month high on Thursday after a correction.The CBOT corn fell in March 2-3/4 cents, to $4.53 a bushel.

Traders said the market is still bullish tone, but the lack of new fundamental message will rally continued, corn so low.In recent months, corn contract rose 1.6% this week, and even get a week 5, five weeks has climbed 6.7%.

Expected to the United States department of agriculture, crop year 2014/15 will be a record 13.985 billion bushels of corn in the United States., analysts said they is forecast to the government, and that because of the government's estimate is based on the trend line forecast.Latest weekly export sales of 691400 tons of U.S. corn, below the analysts forecast interval of 70-1.25 million tons.Analysts say, despite the recent U.S. corn prices rise, but still competitive in export markets, this limits the decline on Friday.

Dalian 21 corn futures edged higher, main contract closed at 1405 to 2347 yuan/ton, up 5 yuan.At present, a lot of the northern port corn scattered in the purchase and marketing activities, mainly private transaction, temporarily not formed the mainstream quotation, jinzhou port is currently part of the business: a small amount of purchase, the arrival of the goods quantity around 500 tons.The current northern port trimming price is in 2340-50 yuan/ton, the stability of the first;Southern port by weak demand, inventory pressure, factors such as transportation allowance.On Friday, the decline in corn, expected short-term even corn weak hard to change.

Average daily walk in guangdong port cargo at present is 40000 tons, a reduction in the future the arrival of the goods, port stocks will be down, as the northern port high-quality corn acquisition costs rise, guangdong port corn clinch a deal the price support.Spot market: February 21 (Friday, according to the port in guangdong, the guangdong port moisture 15% corn northeast high-quality corn mainstream clinch a deal the price 2330-2340 yuan/ton, more than in the previous trading day to maintain stability.

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