Welcome toChina Web Review
Add to Favorites | Chinese
Position:home>Market Review>
CBOT corn futures market on October 19 Comment: U.S. ascribed to suppress corn p
From;    Author:

CBOT corn futures market on October 19 Comment: U.S.  ascribed to suppress corn prices ended lower on

Dow Jones October 19 report, the dollar rose and concern that China may reduce the factors that suppress the consumption of goods, CBOT corn futures market on Tuesday, 5 consecutive trading day lower.

December corn opened 547 cents 555 cents high, low 543 cents 546 cents, down 11.25 cents; 11 years in March corn closed 558 cents, down 11.25 cents.

Speculative funds sold 15,000 on corn contracts.

Prudential Bache analyst Shawn McCambridge, senior grains that lay the corn weak dollar higher tone, coupled with the lack of new news to boost exports, leading to today's corn more susceptible to the impact of the financial markets fell across the board.

Worry about China after the introduction of interest rate policy is likely to slow economic growth caused by speculators selling, the Chinese central bank to raise interest rates in the last 3 years for the first time.

Decline in the market led to reduced buying interest to further expand, traders worry that the lack of a daily sales report showed that inhibition of the current price of corn is export demand.

However, taking into account of the price of corn from the U.S. Department of Agriculture report released in October has risen to be high since the recent bullish on the market prices fall did not cause much psychological impact, but was seen as overbought after a mild correction.

Commercial funds to buy maize when the price Powei contractual restrictions on the kinetic energy market decline, the 2010 U.S. corn production is still uncertain and the United States Department of Agriculture may reduce yields in the November report to provide the market valuation of underlying support.