Yesterday, Tuesday, the corn contract stayed true to its decline of the past few days. The June contract fell by EUR 1.50 to EUR 254/t. An overall good supply situation, also due to Ukraine's enormous ability to deliver, continues to put pressure on the price structure. The most recent estimates by the EU Commission on the declining area under cultivation for grain maize are not having a lasting effect. The Commission published last week that it assumes that the area under cultivation will be 4 percent lower than in the previous year in favor of rapeseed and sunflowers. At the CBoT, the corn contracts also went out of trading with a red sign. The weather forecast for the Midwest is dry and warm, which should support corn sowing, which has already begun in the southern growing regions. So far, sowing is progressing at the same pace as last year. 2 percent of the planned area has been ordered. Before trading, light green signs appear on the eCBoT.
Source
VR AGRICULTURAL
