Corn harvest pressure

Corn went south yesterday and the gains from the start of the week were made up for. The front month closed at a price of 204.75 euros/t, which was 2.25 euros lower. Because of the advancing harvest, there is slight pressure on supply everywhere. Compound feed factories also demand relatively small quantities here. The first harvest results from southern Germany also suggest a decent and good harvest, which also puts buyers in a wait-and-see position. Regionally, there are also increasing offers from France and Eastern Europe. An agreement between Poland, Lithuania and Ukraine on the transit of Ukrainian grain and other agricultural goods should also improve availability on the world market. At the CBoT we also headed south. Here, the negative expectations for wheat and the advancing harvest had an impact on the prices. Meanwhile, ethanol production remains constant on a weekly basis. A Mexican buyer purchased 200,000 tons of corn from the United States. However, the report only supported prices slightly.

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