The corn contracts on the Paris Euronext/Matif stopped their downward trend yesterday. The most traded March contract increased by EUR 3.50 to EUR 292/t. The follow-up contracts were also green yesterday. The CBoT also went uphill. The relaxed corona measures in China are raising the mood and ensuring that the prospects for export development are more optimistic again. In addition, it was announced yesterday that ethanol production in the USA rose significantly on a daily average in the week ending December 2nd. At the same time, however, ethanol stocks have also increased, which limited the price trend upwards. The ethanol inventories are currently being reduced only a little, since the demand for crude oil in the USA has also ebbed recently. Corn prices on the German cash markets have recently also fallen. There are more and more reports that lots can also be bought below the current price. Fodder maize was last quoted at EUR 317/t (delivered) in southern Oldenburg.
Source
VR AGRICULTURAL
