Grain maize yields between 8 and 12 tons/ha in the Palatinate

Corn went slightly northward yesterday for the second trading day in a row. In relation to wheat, the contracts were even able to rise more strongly. The front month of November 23 closed at 211.75 euros/t, up 0.50 euros per ton. Europe's imports remain well below the previous year's volumes. Currently, around 3.9 million tonnes have been imported in the marketing year so far, which is around 41 percent less than at the same time last year. Spain is still the largest importer of corn, while the Netherlands is, as in the previous year, the second largest importer of the grain. The first threshing results from the Palatinate show yields per hectare that are between 8 and 12 tons. The producers are satisfied with the quality and it is reported that the moisture content is mostly below the 30 percent mark. The CBoT corn contracts also developed favorably yesterday. Ethanol production in the USA increased slightly again last week, but at the same time inventories also increased. The majority of market participants are expecting an increase in inventory quantities in advance of tomorrow's USDA quarterly report on inventories. In addition, corn was boosted yesterday by a real rally in crude oil.The North American Brent rose by US$2.59 to $96.55/barrel, WTI even rose by US$3.29 to $93.68/barrel. Because of the use of corn ethanol in biofuels in the United States, prices are often correlated.

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