At the Euronext/Matif in Paris, corn contracts went south for the weekend. The coming front month March 23 lost 2.75 euros/t to 333.50 euros/t. For the entire last week of trading, the March contract has an almost unchanged price (+0.25 euros/t) on the display board. Hardly anything has changed in the framework conditions in Germany and Europe. Cash market turnover remains low. The drop in electricity prices (see below) has also meant that the biogas plants are no longer desperately looking for silo maize. On the other hand, corn made gains on the CBoT. The slightly weaker US dollar on Friday provided support, as did the significantly higher crude oil prices. Market participants are looking forward to the USDA-WASDE next Wednesday with excitement. The majority of analysts are anticipating increasing ending stocks and unchanged yields per unit area in the USA. For South Africa, the USDA reported corn production of around 16 million tons. This would give the country its third-best harvest in history. Chicago corn futures start premarket with losses today.
Source
VR AGRICULTURAL
