Prices for corn on the Euronext/Matif fell yesterday in the slipstream of wheat prices. The front month of November lost 1.50 euros/t and closed Thursday with a settlement of 337.50 euros/t. This means that corn prices are roughly at the same level as last Friday. Due to the drought in the country, the grain exchange in Buenos Aires expects a corn harvest of around 50 million tons, which is 2 million tons less than last season. The harvest in Argentina will start in April. Corn futures were mixed on the CBoT. Export sales came in at 662,000 tonnes, in the upper range of analysts' expectations and supportive. The somewhat weaker US dollar is also giving corn prices support. On the other hand, the corn harvest is putting pressure on price expectations. Before the trading day, all delivery dates at the eCBoT are green.
Source
VR AGRAR
