Corn prices on the Euronext/Matif could not benefit from the specifications for wheat and the good price gains for corn on the CBoT. The front month fell slightly by EUR 0.75 to EUR 336.50/t. For France, the bad corn harvest is being confirmed more and more. However, on the other side of the Atlantic, in South America, there are promising maize stocks. The agricultural authority Conab expects 126.9 tons of corn in the current season and thus increased its forecast by a very significant 14 million tons. The area under cultivation in Brazil is estimated to grow by 800,000 hectares. In the USA, the harvest and the strong US dollar continue to weigh on the mood. Nevertheless, the contracts increased and are also firmer before the market on Monday morning. Professional investors increased their net long positions and rising ethanol prices supported the corn market. For the upcoming WASDE on Wednesday, market participants expect the US corn harvest to be cut.
Source
VR AGRAR
