Domestic: U.S. corn export prices averaged $184 per ton in May, up $12 from April. Concerns over Eastern Corn Belt weather and crop conditions, depreciation of the dollar, and renewed interest from investors in commodity markets have all caused stronger prices. During the first week of June, prices averaged $194. Like corn, May sorghum prices were up $12 from April and up another $8 during the first week of June.
TRADE CHANGES IN 2009/10
Selected Exporters
Ukrainian corn is up 500,000 tons to 3.0 million on stronger demand from the EU and Mediterranean countries and prospects for a larger crop.
TRADE CHANGES IN 2008/09
Selected Exporters
Russian and Ukrainian corn are both raised to record levels because of large shipments in recent months: Russian 1.3 million tons (up 300,000), Ukrainian 5.2 million tons (up 700,000). These have been primarily to Egypt and other North African and Middle Eastern destinations, normally key U.S markets.
Russian barley is lifted 400,000 tons to 2.8 million based on stronger-than-expected exports in April and May.