22.
01.24
09:51

Crop prospects in Argentina slow gains in CBoT corn

Trading in corn contracts on Euronext was sideways without momentum on Friday. The front dates in particular closed the trading day at the previous day's price. The later dates recorded marginal gains. In Chicago, however, corn prices followed the guidelines and increased slightly on all dates. Here too, the export figures provided a tailwind. The USDA announced that around 1.251 million tons of the grain had been ordered. On average, the result over the past four weeks was significantly higher, with an increase of almost 60%. The quantity shipped reached a volume of 1 million tons. The bulls were held back by the continued good earnings expectations in South America. In Argentina, sowing is almost finished at almost 90%. According to market observers, the growing conditions are currently very good. On the other hand, the high US inventories limited the price development towards the north.

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