The corn markets fell on Tuesday and continued their downward trend. In Chicago, September corn lost 1.75 US cents to 401.25 US cents/bushel, while December dropped 2.00 US cents to 419.75 US cents/bushel.
Prices were under pressure as the US harvest progressed. According to NASS, 4 percent of corn acres had already been harvested by September 7. The assessment of stocks weakened slightly, with the proportion of "good to excellent" falling by one point to 68 percent. Although this signals a certain amount of support, it was overshadowed by the progress of the harvest.
Internationally, exports from Brazil remained an issue. The export association ANEC raised its forecast for September to 6.96 million tons, 590,000 tons more than in the previous week. This means that Brazil remains a strong supplier on the global market, which is putting additional pressure on the US market.
Euronext also fell by €0.75 for November. The futures closed at €187.75/t.
