After a mixed week, maize prices fell week-on-week. At the beginning of the week, corn futures fell due to rainfall and optimal growing conditions in South America. Then on Tuesday, Donald Trump announced on the Truth Social platform that he would issue an executive order imposing import tariffs of 25% on goods from Mexico and Canada. This news caused March contracts to fall. European prices were also unable to escape the pressure. This mixed performance at the beginning of the week was caused on the one hand by optimal growing conditions in the main growing regions of Argentina and Brazil. However, these bearish impulses were then offset by higher ethanol production. Nevertheless, slight losses were recorded on the EEX. In the middle of the week, the price here was € 205.00/t for the December contract. Wheat prices were also mixed this week. At the beginning of the week, Matif prices in Paris fell significantly. This was due to Russia's attacks on Ukraine. As the week progressed, pressure from the main wheat-growing regions, which were expecting good weather, prevailed. However, this pressure was then relieved somewhat by short covering and technical purchases, as a result of which the market picture developed positively. Wheat prices are currently falling. The global supply of wheat has been further increased by the record harvests announced by the Australian government. Due to the public holidays in the United States, there was no news of export sales.
ZMP Live Expert Opinion
Corn prices fell due to good growing conditions in South America and the announcement of US import tariffs. Higher ethanol production only partially offset the losses. Wheat prices initially came under pressure, but were able to stabilize somewhat thanks to technical purchases and good weather conditions in the growing regions. However, the market picture could remain weak.
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