Corn prices rose in April on average, but they fell in the second half of the month. They averaged USD 654 cents per bushel in April, which was up 3.2% from March’s price but was 16.8% lower than in the same month last year. On 28 April, the spot price was USD 636 cents per bushel, which was 3.7% lower than on the same day of the previous month.
Although average corn prices rose in April, this masked a downtrend in the second half of the month. Initially, prices were supported by the U.S. WASDE April report, which forecasted reduced global corn production. In addition, the agency reported two large corn sales to China, pointing to firming demand and pushing prices up further. In the latter half of April, a market sell-off sent corn prices plunging.
Corn CBOT (prices in US¢/bu, aop)
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