Corn loses 4 euros per ton in Paris

With a daily loss of 4 euros per ton, the corn prices on the Matif corrected very significantly in yesterday's meeting. At the CBoT, the corn future fared no differently. With a minus of 11.50 USCents / bu it went south for the March date. In addition to the weak targets from the wheat market, the better weather prospects in the main growing areas of the southern hemisphere are also affecting trading on the commodity futures exchanges. The latest weather models are predicting heavy rainfall in some cases for the weekend, and corn and soy in Argentina in particular could benefit from this. As recently as the middle of this week, the grain exchange in Buenos Aires was expecting significant lower yields if the drought due to the La Nina weather phenomenon continued into March. US corn exports recovered significantly compared to the previous week. By January 6, 457,700 t had been exported. The news from the energy agency EIA that the production of ethanol fell in the last week, while at the same time the ethanol stocks increased by 1.55 percent, is a burden.