Maize closed the past week again with clear daily gains. The front month of November increased by 4.25 euros/t and is thus still quoted above the level of the wheat price for December 22. Based on the weather data from July, the German weather service sees irreversible damage. In some places, grain maize is already being harvested as silo maize in order to save the green portion. In the WASDE report, market expectations were largely confirmed. For the US and the EU, the USDA cut production prospects. For Europe, the report expects production to fall by 8 million tons. Little precipitation and warm temperatures are still reported in the Corn Belt for the coming days.
Source
VR AgrarBeratung AG
