US corn bookings above four-week average

Corn started the day on a positive note yesterday and closed at the closing bell with a profit of 1.50 euros/t in the front month of June. In the end, the price in the reference contract was 189.25 euros/t on the display board in Paris. This continues the recent recovery in prices, which is also reflected in slightly higher prices on the domestic cash markets. However, the actual volumes traded remain manageable due to the continued short-term purchasing policy of many compound feed plants. Across the Atlantic, prices on the CBoT continued their sideways movement. Buying and selling arguments continue to balance each other out. The temperatures in the main growing areas along the Mississippi will drop significantly in the next few days, so sowing could be delayed; in the western growing areas, very abundant and above-average rainfall is expected in the next few days. However, export bookings of 1.185 million tonnes provided support. These were around 10 percent higher than the average volumes sold over the last four weeks and physical loadings reached a seasonal high of 1.528 million tons. However, before the market, the corn contracts in Chicago follow the also negative guidelines for wheat.

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