Grain Association raises Ukrainian corn forecast

The Matif went south for corn yesterday. The November contract closed with a daily loss of 0.75 euros/t and a closing price of 211.75 euros/t. The prospect of no revival of the grain agreement failed to support corn prices yesterday. There was also a lack of requirements from the USA, where the stock exchanges remained closed due to a public holiday. In Ukraine, the Ukrainian Grain Association expects a larger corn harvest in recent weeks due to good growing conditions, which is now expected to amount to 28 million tons. Wheat and barley were also valued more highly. Prices on the CBoT are somewhat firmer today before the trading session. The fact that the grain agreement is not being relaunched does not seem to be having much of an impact on the market today.

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