Corn: Little sales on the cash market

Corn began to decline again yesterday and closed the front month of November with a loss of 1.75 euros/t at 203.50 euros/t. The most traded March date lost by the same amount and was quoted at 208.00 euros/t at the closing bell. The grain corn harvest is largely complete. New contracts continue to be made on a manageable scale, with demand from concentrated feed plants primarily focused on deliveries from January 2024. Overall, the mills and mixers are well supplied from the current harvest. Imported goods or quantities from neighboring European countries are also available here and there. In the EU Commission's export statistics published yesterday, corn imports for the current season are stated at 5.45 million tonnes, significantly lower than last year. At this point in 2022, quantities of 9.04 million tons of corn had already been imported into the EU-27. Corn contracts overseas were also weaker. The rapid US corn harvest weighed on yesterday's trade, as did improved growing conditions in Brazil and Argentina. However, premarket contracts are trending for moderate gains in computer-assisted trading in Chicago today.

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