Corn benefits from wheat movement

Corn increased significantly yesterday. On the Paris stock exchange, the leading June date went north by 3.25 euros to 186.75 euros/t. There are also firmer price trends on the cash markets, although trade in corn from Germany is manageable overall. Overall, the prices benefit from the more friendly guidelines for wheat, but friendly guidelines from the CBoT also supported the domestic market. In Chicago, contracts rose yesterday, with the front month gaining 3.50 cents to 439.50 US cents/bu (159.23 euros/t). Here too, developments in wheat are blamed for the price increase. Overall, the news situation for US corn currently remains manageable. In Brazil, the second corn sowing has been completed as reported, the harvest of the first corn sowing has also recently progressed well at 68 percent and is running significantly faster than last year. However, the contracts in Chicago cannot continue the upward movement in the premarket and are trending somewhat weaker at the hour.

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