Maize was again in the red on the Paris Stock Exchange yesterday. The June contract lost EUR 1.50 to EUR 264.00 per ton. Since the beginning of Monday, the front contract on the Matif has lost 17.25 euros per ton. Since the beginning of the month, prices on the American CBoT for corn have also fallen, but futures contracts were able to increase yesterday. The export reports from the USDA in particular are supporting the course of trade here. The Ministry of Agriculture was able to announce a single deal on corn exports yesterday, for the third day in a row. China has started buying corn from the US again, and traders are also expecting more large one-off deals with buyers in China in the coming days. There is speculation about quantities of up to 600,000 tons. In the last few days alone, Chinese buyers have ordered 1.92 million tons of corn from the US. The situation in Argentina continues to support the development of corn prices. The Buenos Aires Grains Exchange again lowered its forecast for domestic corn production by a further 1.5 million tons to 36.00 million tons. That would be the weakest harvest since the 2000/01 marketing year. Announced rain in the coming week could ease the situation, but this is only expected locally.The International Grain Council lowered its forecast to 1.15 billion tons on Thursday due to the cultivation situation in Argentina.
Source
VR AGRICULTURAL
