Improved corn forecast for France

On the Matif, corn prices mostly remained stationary and hardly changed. The front month of November closed unchanged at EUR 229/t, the March contract improved to EUR 234/t and thus by EUR 0.25. The French Ministry of Agriculture expects better yields per hectare. A grain maize quantity of 10.9 million tons is forecast for the state, which would exceed the previous year by around 2.2 percent, but the long-term average would still be significantly lower by 16.2 percent. The forecast for fodder maize is significantly higher, with the Ministry expecting that the previous year's volume will be exceeded by 8.4 million tons. Corn went north on the CBoT. Recently, heavy rainfall had put prices under pressure here, but market participants expect slight production cuts for the USA for the upcoming WASDE. On the other hand, there are better assessments of the condition of the stocks. In the USDA's latest inventory report, 57 percent of corn inventory is classified as "good" or "very good," which is two percentage points more than a week ago.Chicago corn contracts are up slightly premarket today.

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