At the CBoT, corn traders are lining up for today's WASDE, which the USDA will release at 6:00 pm GMT. The majority of market participants and analysts expect the corn harvest to be cut again due to the heat waves in the USA and Europe. The contracts in Chocago increased significantly on Friday and are benefiting not only from expectations for today's WASDE but also from rising crude oil prices. However, some of the gains will be wiped out premarket this morning. The signs on the eCBoT light up red. On the Euronext/Matif, things also clearly went north. France's agricultural authority FranceAgriMer rated only 43 percent of the country's corn stocks as good or very good on Friday. For comparison: in the previous year it was 89 percent in mid-September. Uncertainty about the future of Ukraine's grain exports across the Black Sea is also driving prices up.
Source
VR AgrarBeratung AG
