Cocereal estimates EU corn harvest at 52 million tons

On the Matif, the contracts went into the weekend inconsistently. While the November date gained slightly, the follow-up contracts in March and June fell. The grain trade association Cocereal estimates this year's corn harvest at 52 million tons. In May, the association had expected 66 million tons. In Romania, one of the largest corn growers in Europe, the association estimates that the corn harvest could even be halved compared to the previous year. The same applies to Hungary. France should harvest around 1/3 less and for Germany Cocereal expects a harvest of 3.5 million tons (previous year 4.5 million tons). Corn contracts on the CBoT ended Friday trading little changed. Because of a drought that has lasted for weeks, maize sowing in Argentina has fallen behind. Observers assume that many farmers could switch from corn to soybeans here, since the beans can also be planted later.