Corn rose again yesterday as a result of the overall positive mood for agricultural commodities. In Paris, the November front date is about EUR 11.25 northbound. The announcement by the Ukrainian industry association UGA that the previously expected corn volumes will probably not be achieved had a price-supporting effect in Europe. UGA reduced its own harvest forecast by 12 percent to 24 million tons. In particular, area losses and destruction caused by the war are cited as reasons. The forecasting service MARS reduced the expected harvest quantities for silo and grain maize very significantly. In the US, yesterday's crop report continued to have an impact. The USDA quantifies the proportion of corn plants. who are in good or very good condition fell to 55 percent, down two percentage points from a week ago. A field tour also showed clear deficits in plant growth for South Dakota and Ohio, yields could be up to 12 percent lower at the top.
Source
VR AgrarBeratung AG
