The corn harvest in Germany is progressing. Yields continue to be reported very differently. Current reports currently show a national average of 9.6 tons per hectare, although the range is currently quite wide. However, it is already apparent that the further north the fields are, the better the harvest will be this year. On the Euronext/Matif there was pressure on prices yesterday in the wake of the weak signals from overseas and the falling wheat prices. The front month closed down EUR 3.75/t at EUR 334.75/t. The forward curve indicates a price level of around 340 euros/t for the remainder of the season. Trading on the CBoT is primarily impacted by the further weakening of the crude oil market. The export figures were also disappointing. At 459,420 tons, around 16 percent less corn was loaded last week than in the previous week. The hurricane that is currently raging on the southeast coast is likely to severely limit harvesting work in the next few days.
Source
VR AgrarBeratung AG
