After the very significant increase on Friday, the first trading day of the new week started again with a green sign, although the plus was not as significant as on the previous day. For the most traded June date, it went north by 3 euros to 244.75 euros. On the domestic spot markets, corn is still being traded calmly, fot Brake corn is quoted unchanged at 248 euros/t. The discussions about the import bans in Poland and Hungary are giving a boost in terms of prices, and the very positive wheat forecasts are also supporting European maize prices overall. At the CBoT, good export inspections in particular are driving the price development. Last week, 1.182 million tons of corn were loaded for export. On an annual basis, however, there is still a significant shortfall in the quantities of corn actually shipped in the USA compared to the previous year. The weather forecast for the corn belt around Lake Michigan also supported the price. For the coming days, the meteorologists are expecting not only cold temperatures but also snow, which in turn should stop the actually positive sowing conditions and thus delay field work.
Source
VR AGRICULTURAL
