In Chicago, the corn price ended at a 2½-week low of 373 US cents per bushel on Friday. The US Department of Agriculture (USDA) had released its export figures on Thursday. The figure showed a disappointing result as net reported corn sales in the most recent reporting week were 22% down on the previous week.
Since the start of the season, in compare to previous year, 32% less corn in the US has so far been ordered for shipment in the 2015/16 season. The US corn more expensive for foreign buyers due to stronger US dollar, argues Commerzbank.
Recently, the stronger dollar against the Brazilian real reduced the delivery of corn from Brazil to the US. Due to higher production (85 million tons) Brazil is able to export large quantities of corn.