Maize went south again yesterday. The March date fell to 279 euros/t and is therefore one euro weaker than on Friday. First and foremost, corn prices followed the weak indications for wheat. In today's trading, there are also clear red signs. In the previous daily low, 275.50 euros were traded for the March date. Specifications from the CBoT were missing yesterday. Trading in Chicago was on hold due to Matin Luther King Day. But here, too, there are red signs for almost all delivery dates. As the Ukrainian Ministry of Agriculture announced yesterday, the corn harvest, as already known, lasted until winter. The farmers had to contend with difficult weather conditions and the aftermath of the war. It is estimated that at least 15 percent of the fields have been lost due to the late harvest and the associated weather damage to the stocks. Meanwhile, the first corn harvest in Brazil continues. Rainfall in some important provinces recently ensured that the corn harvest progressed far less quickly than in the previous year. Overall, market participants are expecting a good first corn harvest in Brazil.
Source
VR AGRICULTURAL
