The corn contracts on the Euronext/Matif showed mixed results yesterday, and finally hardly moved from the spot. The leading November date fell by EUR 0.25 per ton to EUR 339.75 per ton. According to the first reported harvest figures, an average of 3.2 tons per hectare was reported for the grain maize harvest in Germany. Significantly better results can be seen in the north. Most recently, the German Raiffeisen Association had estimated the grain maize harvest at 3.6 million tons and thus significantly lower than in the previous year, when more than 4 million tons were harvested. The EU Commission continues to estimate the total corn harvest in Europe at 55.7 million tons, which results in a significantly poor corn harvest after the 73.0 million tons in the previous year. The analysis company StoneX expects better yields per hectare for the US corn harvest compared to its previous forecast, but has corrected the total quantity slightly downwards to 357.0 million tons instead of the previous 359.8 million tons due to reduced acreage. On the CBoT, however, prices moved only marginally yesterday and are showing slightly green signs in pre-market trading today.
Source
VR AGRAR
