In the slipstream of the fallen wheat prices, corn also went south on the Euronext on Friday. However, the losses were less severe. According to the Ministry of Agriculture, only 45 percent of the maize areas in France are in good or very good condition. The stocks were classified as bad more than 10 years ago. Even in the drought year 2018, the status grades were higher in France. However, the surprising increase in grain exports from Ukraine was the main reason for the slight drop in prices on Friday. These are up 70% on a weekly basis. The CBoT showed quiet trading on Friday. The US stock exchanges are closed today for a holiday. StoneX has recently revised its forecast for the US corn harvest slightly downwards.
Source
VR AgrarBeratung AG
