On the Euronext/Matif, corn prices fell again significantly yesterday. The March contract lost EUR 6.25 per ton and closed at EUR 311.50 per ton. The follow-up contracts also showed a clear red sign. While recent events surrounding bombings in a Polish community past the Ukrainian border caused a rally on the CBoT, the news came too late for trading in Paris. The completed corn harvest and the prospect of an extension of the grain deal through the weekend weighed on pricing. On the spot markets, too, prices continue to fall with little turnover. The EU Commission updated its export statistics yesterday. According to this, 656,564 tons of maize were imported into the EU 27 last week. The export counter for the current financial year is 10.85 million tons (previous year 4.77 million tons). The private analysis company IHS Markit has given an initial estimate of US corn cultivation in the coming year. Accordingly, the area would increase significantly compared to this year. Premarket corn contracts on the eCBoT are weaker.
Source
VR AGRICULTURAL
