On both stock exchanges, corn prices increased towards the weekend. In Paris, prices went northwards for the front month by EUR 1.25 per tonne to EUR 306.75. The more favorable trends in wheat and the hesitant sowing in Argentina are contributing to this. According to the stock exchange in Rosario (Argentina), 23.6 percent of the planned corn area has been cultivated so far due to the drought. This is 5.6% less than in the previous year. The weekly export sales, which amounted to 1.169 million tons and thus clearly exceeded the analysts' expectations in advance, provided a boost on the Chicago stock exchange. Trading was limited in price terms by the red sign for wheat and the extension of the grain corridor for Ukraine. From the Ukraine itself, the analysis company APK-Inform reports that some corn stocks could not be harvested due to the war. Combat operations and fuel shortages mean that a not inconsiderable part of the harvest has to overwinter in the fields. Pre-market signs are red on the eCBoT this morning.
Source
VR AGRICULTURAL
