Corn showed losses again yesterday. In all traded months, this was 2.75 euros/t. The front month of June closed at 251.25 euros/t, the August date closed at the same level. The supply situation in Europe is still good. European Union import statistics show that 322,725 tons of corn were imported last week. The total import counter stands at 21.2 million tons (previous year 12.31 million tons). Spain remains the largest consumer within the EU with over 7.03 million tons. But the Netherlands, with 2.4 million tons, and Italy, with 2.16 million tons, also show a great need for imports. In contrast, German importers have only imported 348,417 tons to date. Corn on the CBoT saw slight losses from Wednesday trading. The USDA yesterday reported an export sale of 125,000 tons to a buyer of unknown origin, which China is suspected to be behind the order. In the coming days, mild and dry weather is forecast for many regions in the USA, with farmers hoping to be able to start sowing corn soon. The USDA had recently assumed that the area under cultivation in the USA would be higher than in the previous year.
Source
VR AGRICULTURAL
