Grain corn harvest in southern Germany marked by interruptions

Corn prices rose yesterday on Euronext/Matif. The most traded March contract rose by 0.75 euros to 205.25 euros/t. The previous front month of November will leave trading at the beginning of next week. The last stocks of grain corn in southern Germany and also in large parts of northern Germany are only slowly coming out of the fields. Rain showers repeatedly hinder harvesting work and so in the region around Lake Constance up to around 30 percent of the stocks are still left in the fields. Yields of between 8 t/ha and 14 t/ha are currently reported from this region. Demand for the fresh harvest remains subdued overall, but since transport across the Rhine is working better again and there are no longer any small water surcharges due to the heavy rain showers, many market players are hoping for better demand, especially from the Netherlands. The contract prices on the CBoT were weaker again yesterday. In particular, the better weather conditions in South America continue to influence trading activities. But an increased corn forecast by the analysis and trading company StoneX for the US harvest is also weighing on price developments. In addition, weak export figures provided further selling points.According to figures from the USDA, 748,000 tons of corn were sold last week, significantly less than the average in recent weeks. Physical shipments have also declined, but are more stable in relation to new export sales.

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