US corn harvest down on previous year - Matif corn grows strongly

In the slipstream of wheat prices, corn also rose significantly yesterday. The reasons are similar. The announcement of holding referendums in the occupied Ukrainian territories on union with Russia is causing renewed tension and also driving up agricultural commodity prices. The November date in Paris closed yesterday at 7.75 euros/t ui imd at 331.25 euros/t. EU maize imports have increased significantly compared to the previous year. Since the beginning of the marketing year, 5.8 million tons of corn have been imported; in mid-September 2021 it was only 3.2 million tons. More and more corn deliveries are coming from the Ukraine in particular. The CBoT also went north. The leading December contract rose yesterday to a price equivalent to 273.41 euros/t. The harvest is still not going as quickly as the market had previously expected. According to the USDA's crop report, 7 percent of the acreage had been shrunk by the weekend, and the status ratings fell again by one percentage point to 52 percent (good to very good).