Ethanol production continues to decline

For corn, spot market quotations remain stable and unchanged. Trade remains manageable even in the middle of the week, especially in southern Germany, the current flood situation on the Rhine and the snowfall make logistics a little more challenging. Yesterday, the contracts on Euronext/Matif did not show a consistent direction. The front month of March. We were able to increase by one euro to 198.75 euros/t, the following month of June and the August date fell slightly. From today's perspective, based on the Euronext/Matif forward curve, an increasing price level can still be expected as the season progresses and also after the next harvest. The contracts on the CBoT showed a positive development and were able to recover somewhat. As with wheat, yesterday's gains are primarily attributed to technical orders. The energy authority EIA also reported a decline in daily ethanol production volumes yesterday. Compared to the previous week, another 12,000 barrels less are produced per day. This also has an impact on inventories, which have fallen by another significant 273,000 barrels.Pre-market today there are slightly green signs for the contracts up to May 24, later trading dates tend to show slight losses.

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