Better weather conditions allow corn sowing to pick up speed

Profit-taking caused prices on the Matif and the CBoT to fall on Friday. The front month in Paris lost 3.25 euros per ton. The CBoT was down 10.25 cents/bu south. The fact that traders want to pocket their profits is mainly due to the better weather forecast in the Corn Belt. In the coming days it should stay dry and the farmers can really make progress with the corn sowing. US President Joe Biden also announced that he would support farmers in the face of high fertilizer prices. 500 mil. US dollars are to flow into the domestic industry. However, premarket corn contracts in Chicago erased Friday's losses. The July contract is currently trading 19.25 US cents/bu higher and is showing clear gains just like wheat.