Corn: High export expectations in Brazil

The corn trade appears to have changed little. The bottom line is that the contracts continue to move sideways and do not show a consistent development. The front month of March increased by 0.25 euros to 201.25 euros per ton. The subsequent contract left the trading session unchanged at 208.25 euros/t. In addition to fewer sales, stable prices are also evident on the cash markets. Franko Südoldenburg is still quoted at a stable 232 euros/t. Regionally, goods from Eastern Europe are entering the German corn market at more favorable conditions. On the CBoT, corn contracts were able to increase in the slipstream of friendly guidelines for wheat. However, friendly export reports and price competition with Brazil are currently keeping price fantasies in check. The industry association Anec from Brazil reported that exports of 7.2 million tons are expected in December, significantly more than in December of the previous year. The significant drop in crude oil prices yesterday is also weighing on corn trading on the CBoT.

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