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AMIS Market Monitor

last release: July 2017

International Prices

The IGC GOI maize sub-Index dipped in June, as weakness in South America more than offset modest gains at other origins. Prices in Argentina dropped quite sharply, as newly harvested supplies entered the pipeline. A record crop is expected and, with recent delays to purchases by key buyers in North Africa, nearby quotations slumped to around USD 145 per tonne (FOB, Up River) late in the month, the lowest in more than eight years. Activity in the US market was mixed where, despite some recent weakening, average prices were seen fractionally higher m/m. Trading was heavily influenced by weather, with crops about to enter the key yield determining phase. Black Sea values were lightly supported by background worries about recent dryness and robust buying interest, including from China.