The front month of June lost another EUR 5.50 per ton yesterday to EUR 244.75 per tonne. The August contract even lost 7 euros and the dates for the next harvest also showed significant losses. As a result of the stock market prices, which have been falling for days, the spot market listings in Germany are also falling. However, sales of corn are manageable overall, so that the price quotations are to be considered rather nominal. For Brazil, the consulting firm Agroconsult is expecting a corn harvest that is 5 million tons lower than its previous estimate at 125 million tons. The reason given for the correction is the late sowing of the second maize harvest. Overall, however, the prospects for Brazil remain positive in terms of volume. On the CBoT, corn was inconsistent, the front dates were able to increase slightly, the dates of the new crop were shown with red signs and the pre-market trading today does not yet show a clear trend. The USDA was once again able to report an export sale to a Chinese buyer. 174,000 tons of corn were booked. In line with the many reports of high export bookings, analysts are expecting a volume of between 1.7 and 3.4 million tons for today's publication of the weekly export sales.
Source
VR AGRICULTURAL
