While corn prices in Paris rose again yesterday, the CBoT went south. In Europe, the uncertainties surrounding Ukrainian exports continue to affect pricing. At the CBoT, profit-taking again caused price losses. The fundamental data changed little yesterday. It remains with the worse corn ratings, the declining US crop estimates and the uncertainty regarding Black Sea exports. The US dollar rose again yesterday against the euro, making it fundamentally more difficult for Americans to offer their goods competitively on the world market. U.S. ethanol production has fallen to its lowest level in 22 weeks, according to the Energy Agency. On the downside, inventories are also low, falling back to a 12-week low. Premarket Corn contracts continue their downtrend today.
Source
VR AgrarBeratung AG
