In the wake of the bearish wheat markets, both the Matif and the CBoT for the corn contracts went into the red. Meanwhile, corn prices are also weaker on the local cash markets. Deliveries from Brazil supplement the offer, even if trade is still calm. Meanwhile, US farmers expect to plant 92.421 million acres of corn. The result would therefore be below the level of the previous year of 93.357 million acres. Soybeans in particular are replacing grain on many areas due to the high prices for oilseeds. The EIA yesterday confirmed that ethanol production was 1.03 million barrels per day for the past week. Although production has declined slightly, inventories have risen to 25.95 million barrels
Source
VR Agrarberatung
