On the Euronext/Matif in Paris things went up again yesterday. The March date gained EUR 5.25 per tonne and closed at EUR 285.52 per tonne. For the June date it was about 4.25 euros/t northbound. The positive indications from the wheat market provided support. In addition, the dynamism of maize imports by the EU member states has decreased. While 489,425 tons of corn were imported three weeks ago and 308,652 tons in the week before last, it was 230,068 tons last week. The price developments on the cash markets are mostly stable. Overall, however, sales of feed grain are still manageable and are mainly concentrated on short-term delivery dates. Ahead of today's USDA WASDE, corn on the CBoT closed lower. On the one hand, the grain exchange in Rosario (Argentina) raised its condition assessments for the corn fields there, but emphasized that further precipitation is urgently needed. Looking at the figures from WASDE, the analysts anticipate that US inventories will increase and that production expectations for Brazil will also increase. Due to the weather situation in Argentina, however, the values for production there are likely to be corrected downwards.
Source
VR AGRICULTURAL
