The up to double-digit losses said goodbye to the Euronext corn on Friday. In France, the drought of the past few weeks has caused significant damage to the corn stocks. A grain corn harvest of 12.66 million tons is expected, which is almost 18% below the level of 2021. In addition to the poorer yields, the area under cultivation has also fallen to 1.46 million hectares (-0.09 million hectares). According to the French Ministry of Agriculture, only 63% of the stocks are still in good condition. In Chicago, on the other hand, corn contracts went green just before the weekend. The reason for the lead of the bulls is the weather forecast. There is still a lack of rain in the cornbelt and dry and warm conditions are also expected until the end of the month. Meanwhile, the Argentine harvest is running without any major incidents. 81% progress has been achieved so far. The bulls were slowed down by pending exports from Ukraine. The main focus there is on loading corn.
