22.
02.22
09:54

Corn suffers from drought in Argentina

The Euronext wheat ended trading on mixed signs. While the front dates landed in the green, the back contracts gave way. After yesterday's pause in trading, corn futures on the CBoT are trading up to double-digit gains in premarket trading. The analysts of the Buenos Aires Grains Exchange expect that the severe drought in the important growing areas has led to significant yield reductions and forecast a total harvest of 51 million tons. According to official figures, 18.68 million tons of corn have been exported to Ukraine so far. Last year the total volume was 23.1 million tons. Overall, exports of 33.8 million tons are expected this season.

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