US corn holds its own

Corn prices on Euronext were under pressure in line with wheat and recorded further losses. The two alternative dates closed at €201.00 and €204.50 per tonne respectively.

However, the announced rainfall in the Plains provided support for US corn prices. Soil moisture is still very high due to the rainy previous weeks and this could significantly delay sowing. It should be noted that May marks the end of quotations for the 2023 harvest for many products, or at least the end of negotiations for the quantities still available. On Euronext, the wheat contract for May 2024 expires next week, on May 10.

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