Corn: Hoping for a dry March

Contrary to the wheat market trend, the new front month of June rose slightly yesterday and rose in price by 0.50 euros to 173.50 euros/t. Overall, the global supply situation remains high and the competition among exporters remains high. As a result, China reportedly booked 600,000 tons of feed corn in Ukraine. Europe is a net importer and has until February 28th. 11.94 million tons were purchased on the world market. That's 8.04 million tons less than at the same time last year. Ukraine is also the most important supplier for Europe. Around 2/3 of all European imports come from there. Brazil supplies another 23 percent. Looking at the March forecast from the German Weather Service, producers in Germany have mixed feelings about the coming sowing. Since almost all soils have 100% usable field capacity and therefore rainwater can hardly drain away, a dry March is required in order to be able to sow seeds. The DWD is forecasting an unstable but warm March. At the CBoT, corn went south yesterday. The situation on the world market and China's order in Ukraine continue to weigh on sentiment. Even today there are red signs on the Chicago stock exchange in pre-market trading.

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