Ethanol production declining

After days of sideways movement, corn prices on the Matif went southwards yesterday. The front month of March lost 0.75 euros and closed yesterday's trading session at 200.50 euros/t. The subsequent contracts fell to a slightly larger extent in absolute terms. As the Ukrainian Ministry of Agriculture announced, 7.4 million tons of corn were exported in the current season. Exported. At the same time last year it was already 10.9 million tonnes. Declining prices were also evident on the CBoT. The losses here were primarily caused by the negative data from the wheat trade and the soy market. The overall better weather conditions in South America are having a negative impact; after a few days of below-average rainfall, the first meteorologists are predicting heavy rainfall again in many important growing areas in central Brazil. The further decline in ethanol production volumes in the USA also had a negative impact. The government in China expects a record corn harvest of 288.84 million tons this season, an increase of around 4 percent compared to the previous year. The farmers there had recently significantly expanded the area under cultivation.

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