With weak sales development, the corn contracts on the Euronext/Matif were able to increase again yesterday. For the front month of August, it went northwards by EUR 2.50 per tonne and the prices for fodder maize in southern Oldenburg were also raised by EUR 3 yesterday. A survey commissioned by the German Corn Committee (DMK) shows that the area under May in Germany has fallen by around 6 percent. Silage maize production in particular is declining, while the grain maize area has grown. At the CBoT, the later dates showed losses. Market participants and analysts are expecting a slight increase in corn acreage in the USA for today's USDA figures. In addition, rainfall in the Corn Belt favors plant growth. US ethanol production is slightly declining in a weekly comparison, but at the same time ethanol stocks are also declining.
Source
VR AgrarBeratung AG
