There was no uniform trend for corn in Paris. The front month was able to increase to 284.25 euros/t, but the June contract slipped into the red and closed one euro lower at 283.50. Prices on the cash markets have recently been unchanged to slightly weaker. In southern Oldenburg, ffr. currently called 310 euros/t. The CBoT went south. In particular, the recent rainfall in Argentina caused sales pressure here. According to observers, at least half of the corn plants in the South American country could benefit from the current rainfall. Even good export shipments could not help CBoT corn to break even. The USDA's announcement yesterday that Mexico bought 140,000 tons of corn from the US despite the threat of an import ban limited the losses at best. In addition to better earnings prospects for Argentina, economic worries in particular are depressing the mood of market participants on the CBoT.
Source
VR AGRICULTURAL
