Corn falls below the 200 euro mark

On both sides of the Atlantic, corn contracts closed in the red yesterday. The March date on Euronext/Matif in Paris lost 3.25 euros with a closing price of 197.75 euros/t. Already on Monday it went south at 3.25 euros/t. Effective trading on the local cash markets remains more than manageable at the beginning of this week. Inquiries come sporadically and the willingness to submit is low. Things also went south on the CBoT on the second trading day of the new week. The US corn harvest is 96 percent harvested and is therefore practically complete. Export shipments were disappointing and were around a third lower than the week before. Even the news that buyers from South Korea bought 200,000 tons of US corn failed to move the market into the green zone. There were further setbacks in electronic trading this morning, although they were more moderate than on the previous two days.

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