Corn: Weather data in focus of market participants

Corn continued its positive trend from Friday yesterday and rose across all tradable contracts. The June contract closed with a gain of 1.50 euros at 191.75 euros/t. This reflects concerns about Ukraine's ability to deliver. The renewed and more intense fighting of the past few days had already caused wheat and corn prices to rise last week. In Europe, the EU Commission, like many other analysts, expects a significantly higher area of corn to be cultivated, but many soils are currently too wet and so producers and traders are hoping for a dry April. The weather forecasts are also the focus of market participants at the CBoT. In Brazil, as in Argentina, there are currently no signs that the current harvest or the second sowing could falter; the yield prospects are stable. In the USA, farmers are starting to sow corn in many states. In the eastern corn belt in particular, the soils are sufficiently supplied with water, while in the western ones there is still a lack of rainfall. At the closing bell, corn rose slightly in Chicago. No clear trend is yet apparent in premarket trading this morning.

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