Corn harvest picks up speed in Argentina

On Friday, as for the entire week just ended, maize headed north. The closing price on Friday was 24,208.50 euros/t in the front month of June. The futures contract thus gained another euro. The following contracts also left last week's trading session with green signs. The focus was mainly on international news. The harvest in Argentina is picking up speed. Currently, 20 percent of the land has been harvested. Due to the disease infestation of many areas, only 17 percent are still rated in good or very good condition. In the previous week, the stock exchanges in Buenos Aires and Rosario had already warned of a significantly lower maize harvest. Today, Monday, the USDA will announce the progress of the US sowing season. Analysts expect a rapid planting. In the Vorn Belt, areas have recently benefited from rainfall. On the CBoT, corn contracts fell on Friday and are not showing a clear direction today in pre-market trading.

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