Corn: Slightly weaker again before the trading session

The March date on Euronext/Matif rose by a significant 2.50 euros yesterday. At the final bell a price of 208.50 euros/t was on the display board. The corn harvest in Europe is over, a few exceptions are no longer significant. In the USA, the corn harvest is not yet completely complete. Currently 88 percent of the areas have been threshed. This means that the corn harvest progressed a little slower last week than had previously been expected. Additional support came from the export side. The USDA inspected 610,000 tons of corn shipments during the week of November 9, up 35,000 tons from the previous week. A total of 6.16 million tons of corn were exported this season, which is 1.16 million tons more than at the same time last year. Rising crude oil prices provided additional tailwind, as did the more friendly mood on the wheat market. However, in the premarket today, the contracts are trending again with slight losses.

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