The price of fodder corn increased by 37 percent

By: STA Date: 2024. 11. 12. 09:30

In the USDA’s November projection, the 2023/2024. 2024/2025 indicates a global corn harvest of 1219 million tons, almost 10 million tons less than last year. financial year. Emissions are forecast to decrease by 22 percent (to 13 million tons) in Russia, 19 percent (to 26.2 million tons) in Ukraine, 4 percent (to 58.8 million tons) in the European Union, and 1 percent (to 385 million tons) in the United States . In contrast, Brazil’s corn production may rise to 127 million tons (+4 percent), Argentina’s to 51 million tons (+2 percent).

(Photo: Pixabay)

The amount of corn entering global trade is expected to decrease to 190 million tons (-4 percent) due to the lower output. The biggest importers are still Mexico (24 million tons), the European Union (19 million tons) and China (16 million tons), and the most important exporters are the USA (59 million tons), Brazil (48.5 million tons), Argentina (37 million tons) and Ukraine (23 million tons). The global consumption can be put at 1,229 million tons, which would exceed that of the previous season by 10 million tons. The 2024/2025. by the end of the economic year – the 2023/2024 10 million tons less than last year – 304 million tons of corn can remain in storage. According to AKI PÁIR data, feed corn changed hands at an average producer price of HUF 75.5 thousand/ton in the last week of October, which was 37 percent higher than a year earlier. On the Budapest Stock Exchange, the December listing of ISCC NUTS II sustainable fodder corn was unchanged at HUF 83,000/ton between October 28 and November 8. At the same time, the December rate of corn on the Chicago Mercantile Exchange was in the range of $162-$170/ton. At the same time, the March 2025 stock exchange settlement price of the crop on the Paris commodity exchange was between 206 and 213 euros/ton.