The Black Sea geopolitical situation is also driving corn higher. The front month of November went up by a very significant EUR 10.25/t. The other delivery months in Paris also picked up significantly. Corn prices also rose on the spot markets in Germany. Yesterday, 342 euros/t were called for Mais (Free on Truck) Brake. The blowing up of the Krimm Bridge is classified by Russia as an "act of terrorism", and President Putin accordingly justified the attacks on many Ukrainian cities and on Kyiv. Due to the Ukrainian army's land gains and escalating rhetoric, more and more doubts are being raised about the future of the grain corridors. Recently it became known that a UN delegation wants to travel to Moscow to secure the future of the agreement. The CBoT also went north. Corn in the front month of December 22 was traded yesterday at the equivalent of 283.41 euros/t in Chicago. The crop report published today on the progress of the harvest should provide excitement. Retailers are also looking forward to WASDE on Wednesday and are positioning themselves accordingly.
Source
VR AGRAR
