Corn prices also fell significantly yesterday after the USDA report. In Paris, the most traded November date lost EUR 12 per tonne and is now just above the EUR 300 mark. In the WADE report, the USDA changed its view of global corn consumption and the corn harvest only slightly downwards. For the USA, on the other hand, a significantly higher volume is expected. Maize production there is expected to increase by 1.14 million tons compared to previous estimates. However, the USDA does not expect US exports to increase. Closing stocks were increased accordingly. This morning, the eCBoT is showing slightly firmer prices in pre-market trading, but they are far from making up for yesterday's losses.
Source
VR AgrarBeratung AG