Corn follows weak lead in wheat

The fact that the USDA again lowered the European corn forecast significantly to 54.8 million tons on Wednesday did not result in a trend reversal in corn contracts on the Euronext/Matif in Paris yesterday either. The leading March date lost 2.25 euros, following the weak lead in wheat and from overseas. The mixed export sales in particular put pressure on prices there. Export sales up to November 3, at 265,000 tons, were well below the values of the previous week (-75%). On the other hand, the USDA reported a private sale to Mexico of 209,932 tons of corn yesterday. In addition, weak guidance from the soybean complex also weighed on corn prices at the CBoT. With the pre-market trading on the eCBoT, however, corrections are showing today. At the moment, the leading December contract started the last trading day of this week with a gain of 5 US cents/bu compared to yesterday with green. .