Declining corn cultivation in Ukraine

Corn was unable to maintain the green signs from Tuesday on Wednesday and, true to its trend, closed with red signs. At the closing bell there was a settlement of 171.50 euros/t in the June contract and a setback of 0.75 euros per ton on the Paris Euronext/Matif scoreboard. Recently, cash market quotations have also been weaker with low sales volumes. The government in Kiev expects the area under corn cultivation to decline by around 4 percent compared to the previous year. Because of the lower prices, corn cultivation has become less profitable, and at the same time high costs are affecting farmers' cultivation planning. Corn also went down on the CBoT yesterday. Newly announced rainfall is likely to benefit the corn plants in Argentina shortly before the harvest. Corn exports have recently increased again. There are also red signs in Chicago today before the trading session.

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