The downward trend for corn on the Paris stock exchange was intact yesterday. The front month of March closed one euro lower at 283.25 euros/t. As the EU Commission published yesterday, until December 18th. 13.46 million tonnes of maize imported into the EU-27. This means that 327,664 tons have arrived in the last week alone. Brazil continues to be Europe's most important supplier, followed by Ukraine. On the CBoT, on the other hand, the courses were able to increase and are mostly showing a slightly green sign even before the trading day. In the dispute over Mexico's import ban on genetically modified maize, there are at least indications that Mexico is making concessions. Accordingly, the import ban should not come into force as planned in 2024 but only in 2025. In Argentina, the rain front has passed. The precipitation obviously brought relief from the suffering of the plants, but the soils remain too dry overall. Warm temperatures and dry weather are forecast for the coming days. Yesterday's price gains were limited by the disappointing overall demand for corn. Both US export sales and domestic demand have been weaker recently.
Source
VR AGRICULTURAL
