On its monthly supply and demand estimates, the Ministry of Agriculture left its corn balance sheet unchanged.
They said that weather conditions were generally good for the harvest of corn, but that high temperatures posed a risk to corn storage and that farmers sold more corn, causing prices to fall. As temperatures dropped, and the risk of damage to stored corn fell, farmers became more bullish and slowed sales.
Additionally, Sinograin beginning stockpiling purchases has helped stabilize the m...