The extension of Ukraine's grain deal put pressure on corn prices on the Matif yesterday. Already in the past few days, the prospects of the 120-day extension decided yesterday have already put pressure on prices. The front month of March closed yesterday at a price of EUR 305.50/t, down EUR 2. While few goods are available in this country due to the harvest or are offered for sale by farmers, Ukrainian deliveries relieve the supply situation in the EU and in Germany. The EU Commission has made 1 billion euros available to expand a "solidarity corridor". This is intended to improve Ukraine's land exports and thus reduce dependence on the Black Sea route. In its November forecast published yesterday, the International Grains Council (IGC) did not change the prospects for global corn production compared to the October estimate and still expects a harvest of 1.166 billion tons in the 2022/23 season.
Source
VR AGRICULTURAL
