Corn prices went up in Paris yesterday. The front end in Paris gained EUR 1.00 per tonne and closed Wednesday at EUR 327 per tonne. The final harvesting work is underway in south-west Germany, but overall the grain maize harvest in Germany is over. The German Raiffeisen Association estimates the harvest at 3.6 million tons. Last year, 4.4 million tons were still taken from the fields in this country, a value that was 20 percent higher. However, the Raiffeisen Association is concerned about the current gas prices, which have made drying extremely expensive. However, according to the DRV, the announced gas price brake should ease the situation. Corn dates on the CBoT fell slightly. The front month of December fell to the equivalent of 273.10 euros/t. The main reason for the weaker prices is concerns about demand for US corn due to the current strength of the dollar. In addition, the corn harvest is making good progress and is creating a corresponding pressure to sell. US ethanol production is back above 1 million barrels per day as inventories are reduced, keeping the decline in check.
Source
VR AGRAR
