The corn markets in Europe and America developed in different directions yesterday. On the CBoT, the main reason for the losses was the FED decision and the associated concerns about a recession. The dollar gained additional strength due to the Fed's decision to raise key interest rates by 0.75 basis points, making US corn contracts more expensive. The even lower ethanol production volumes also weighed on the mood of the corn traders. On the Matif, the front month of November increased by 6.75 euros/t and, with a closing price of 338 euros/t, has risen by 10 euros since last Friday. Already on Tuesday, the EU forecasting agency MARS had revised the yield expectations for grain maize and silo maize downwards again. The first available harvest results also confirm this forecast.
Source
VR AgrarBeratung AG
