Corn back above the 200 euro mark

Corn moved northwards on Friday. Quotations on Euronext/Matif rose for the most traded June futures contract, closing 4.50 euros/t firmer at 201.75 euros/t and thus regaining the psychologically important 200 euros/t mark. The August futures price also increased significantly, while the November futures price rose by one euro to close directly at the 200 euro per tonne mark. Overall, the concentrated feed industry is once again somewhat more interested in maize and is increasingly looking for available goods. Overall, however, stocks in this country are no longer thought to be quite so high. Support also came from overseas. Corn also rose on the CBoT at the weekend. The trouble spots in Ukraine and the Middle East provided a tailwind, as they are fueling concerns about tighter supplies. In addition, weather forecasts indicate a deterioration in weather conditions in some states. The fact that Mexico placed two large orders for 23,000 tons and 193,500 tons of corn on Friday also boosted the buying mood. However, corn is already giving up some of Friday's gains in pre-market trading this morning.

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