Ukraine's resumption of grain exports dragged lower on corn yesterday. The coming front month of March lost EUR 8 per tonne and closed at EUR 336.50 per ton yesterday, Wednesday. Concerns about the global supply situation have thus been defused to some extent. EU maize imports continue to be very dynamic. Until 31.10. 9.57 million tons of corn were imported into the European Union in the current season. In the previous year it was only 4.42 million tons. Brazil remains the most important supplier with just over 50 percent of the import volume, but the Ukraine has already delivered 3.6 million tons. The news from Russia also put pressure on prices on the CBoT. There was also news from China, according to which the country had approved a number of Brazilian exporters for the Chinese market. The dollar rose again as a result of the Fed's decision yesterday to increase interest rates by 0.75 basis points. The export prospects for the Americans have thus deteriorated significantly. Ethanol production increased again significantly last week and slowed down the price decline.
Source
VR AGRICULTURAL
