17.
10.23
08:43

Corn harvest in Ukraine is picking up speed

Despite a lack of stimulus from the wheat market, corn contracts in Paris on Euronext/Matif rose yesterday. The leading November date closed with an increase of 1.50 euros/t, the March contract went north by 1.25 euros to 208.25 euros/t. In Ukraine, the corn harvest is slowly picking up speed. Around 5.9 million tonnes are said to have been harvested so far, which corresponds to a harvest progress of around 22 percent. The yields here are around 6.6 t/ha. Last week, the USDA estimated the Ukrainian corn harvest at 22.5 million tons. At the CBoT, however, corn went south. Market participants were disappointed by last week's weekly corn export shipments. Just 437,000 tons were able to be shipped. At the same time, the USDA was also able to announce a new export deal with Mexico for 200,000 tons of corn. The harvest is making good progress; from the crop report, the ministry reported a harvest progress of 11 percent last week, meaning that a total of 45 percent of the cultivated areas have now been harvested. Premarket corn contracts in Chicago are trending slightly weaker.

Source
VR AGRICULTURE
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