25.
08.23
11:09

Corn: US export figures at high end of expectations

Maize was able to increase yesterday and gained 0.50 euros/t in the front month of November 23 with a closing price of 216.00 euros/t. Overall, corn prices have increased in recent trading days. Last Thursday, the November contract was still quoted at 211.25 euros/t. Attacks by Russia on important agricultural infrastructure in Ukraine continue to give corn prices a tailwind. As can be heard from southern Germany, contracts for deliveries ex-harvest in October are currently being traded for around 220 euros/t for grain maize. The old harvest still fetches around 225-230 euros/t here, with residual quantities of the old harvest from the Ukraine and France also pushing their way onto the southern German market. On the CBoT, corn prices could not continue their upward trend yesterday and are not showing a very clear direction before the market either. Export bookings published yesterday were at the upper end of analysts' estimates at 650,000 tons, but were unable to stop the price setback. The field survey by the Pro Farmer industry association continues and has reported average crop yields for the states of Illinois and Iowa, but often slightly better yields per acre should come from the fields in these two states.

Source
VR AGRICULTURAL
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