The US corn markets went into the weekend with moderate price gains and rose by 6 to 7 US cents/bushel. September was last at 408.5 US cents/bushel. The end of the week was characterized by the fact that investors stocked up on short positions before the weekend.
The weather is currently playing into the hands of the growing conditions for maize. Weather forecasts point to good conditions for maize with precipitation and warm temperatures. However, the precipitation is also urgently needed, as the above-average temperatures forecast for this week could otherwise lead to drought stress for the plant.
On the export side, sales delivered to date and those not yet delivered total 69.467 million tons. This corresponds to 99% of the current USDA forecast and is slightly below the five-year average of 102%.
Corn also rose on Euronext for the month of September by €4.25/t to €209.75/t.
