Corn firmer on a weekly basis

The majority of corn went north on Friday. Only the front month of November closed unchanged. The now most traded March date increased by 0.75 euros/t to 210.75 euros/t. On a weekly basis, corn prices on Euronext/Matif were able to make up ground. In the March date, 207.0 euros/t was still on the display board of the Paris stock exchange on Friday of the previous week. The cash markets are also showing slightly firmer trends with relatively few sales, even if the harvest has not yet been completed everywhere. However, profit-taking and changed weather forecasts for South America caused prices on the CBoT to fall on Friday. Overall, it is currently dry in Argentina, but in important corn-growing areas there was very heavy rainfall last week and into the weekend, so that the ongoing corn sowing had to be interrupted. In any case, Argentina's farmers are lagging behind in sowing corn, as the grain exchange in Buenos Aires announced. The cultivated area could therefore be smaller than initially expected. In Brazil, however, rainfall in the northern growing areas is causing higher expectations for corn production.Recently it has been too dry, especially in the north such as Argentina. Important transport rivers in South America also have low water levels, making corn and soy transport difficult. Pre-market, corn contracts are showing slight green signs this Monday.

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