date:Dec 03, 2012
As of November 22nd, cumulative corn sales stand at 42 per cent of the USDA forecast for the current marketing year versus a 5 year average of 49 per cent.
Sales of 421,000 tonnes are needed each week to reach the USDA forecast. The last two weeks of sales have been slightly better than earlier in the crop year but cheaper corn continues to flow out of South America and Ukraine.
Some traders suggest that Asia may be short corn supplies from January forward which could mean the US may become