Conab reduces forecast for Brazilian corn harvest

As with wheat, trading in corn yesterday, Tuesday, was impulsive on both Euronext/Matif and CBoT. After the contracts gained in the first half of the day, especially in the USA, things headed south again at the close of the stock market. In particular, the news from Brazil that production could fall to 112.7 million tons caused trading activity to decline. According to Conab analysts, the main reason for the correction of the forecast was the adverse growing conditions. The USDA, on the other hand, is more positive about the harvest. The experts expect a harvest of around 124 million tonnes.

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