On the Matif, corn contracts rose sharply yesterday. Corn is also being quoted more firmly on the cash markets. A price of 404.00 euros/t is given for Franko Südoldenburg for prompt delivery. The EU weather agency MARS increased the forecast yield per hectare from 7.91 t/ha to 7.92 t/ha compared to the April estimate. While good export figures on the CBoT closed trading with profits, further gains in corn sowing held back gains. As of Sunday, 1.7 million tons of corn were shipped overseas by US exporters, up nearly 640,000 tons from the previous week. Sowing in the corn belt has made further progress at 72 percent. Compared to the previous week, the progress is 23 percent. However, premarket corn contracts on the eCBoT are giving back yesterday's daily gains this morning.
Source
VR AgrarBeratung AG