Corn yields in the slipstream of wheat

Corn prices fell yesterday in the slipstream of wheat prices. The November contract on Euronext/Matif closed with a loss of 1.50 euros/t at 210.25 euros/t. Nevertheless, the contract is trading higher than at the end of last week, when the scoreboard in Paris read 209.25 euros per ton. In Bavaria, the grain corn harvest has gained momentum across the board. Prices are under pressure here and are currently quoted at 195 to 200 euros/t ex station. According to traders, China has ordered ten to twelve shiploads of feed corn from Ukraine. Overall, market participants expect that China will increasingly take advantage of the young Brazilian corn harvest. US exports by September 21st reached 841,800 tons, and 730,000 tons were actually loaded. The main buyer in this reporting week is once again Mexico, and further significant quantities were sold to China and Colombia. The corn harvest in the Corn Belt continues. Very high temperatures are reported here for the next week, which could reach new peaks in October. At the closing bell, the CBoT contracts were firmer and there were also slight green signs in premarket trading this morning.

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