CBoT corn futures are trading today at yesterday's closing level when they lost 3%. The market is already feeling the slower demand for ethanol made from corn. In addition, the weather conditions at the start of the growing season are excellent.
The gloomy market outlook for US ethanol production worsens with the fall in crude oil prices, which not only give way to the upward maturities on the futures market. The oil tanks in the U.S. and worldwide are overflowing because the economy in the corona pandemic is buying less energy.
The corn market is also burdened by good weather reports, which allow US farmers to make rapid progress in sowing.
The Minister of Economic Affairs of Ukraine has now said that corn exports will not be restricted this season. It sounded different in the last week. 
Source
Hansa Terminhandel GmbH
